Despite Denver Foreclosures, Home Values and Prices Rose

by cassy82 | December 16, 2009 at 07:19 am

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Denver foreclosures are still high compared to other metro areas, but home values, home prices and sales of homes from builders have been improving. Denver was third in a list of cities with the highest increase in home values for the period from January to November.

Denver foreclosures are still high compared to other metro areas, but home values, home prices and sales of homes from builders in the city have been improving, based on reports from real estate research companies and from the Colorado Division of Housing.

The Denver metro area was third in a list of U.S. cities with the highest gain in house values for the 11-month period ended November. Denver gained a total of $10.7 billion in total home values, next only to Boston and Providence, Rhode Island.

While many other major cities lost billions in home values, as shown in the overall loss of $489 billion during the 11-month period, home values in Denver increased by $10.7 billion to $215.7, a sharp contrast to the drop of $20.2 billion in home values in the area in 2008.

By Cassiano Travareli