Denver home prices rebound to 2007 levels

DENVER - A new report shows Denver home prices have rebounded to their 2007 levels.

Denver's S&P Case-Shiller home price index for December was 134.14, meaning that local home resale prices averaged 34.14 percent higher than they were in the benchmark month of January 2000.

The last time Denver topped that price level was in October 2007, when the Case-Shiller index stood at 136.09.

The peak index reading for Denver was the summer of 2006 when it hit 140.26 in July and 140.28 in August.

The S&P/Case-Shiller Denver Home Price Index measures the average change in value of residential real estate in Denver given a constant level of quality.

The prices are for resales of stand-alone single-family homes only, not for new construction or condominiums, and are meant to reflect price changes for comparable home inventory. Case-Shiller does not report actual home sales prices, according to the Denver Business Journal.

See the Denver report: http://us.spindices.com/indices/real-estate/sp-case-shiller-co-denver-home-price-index

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