Earlier this year, a study from California-based CoreLogic argued that homes in Denver were seriously overvalued and predicted a 10 percent price fall by the spring of 2021. But since then, the scenario has shifted substantially, with Denver single-family home prices hitting a record average high of more than $600,000, with bidding wars at a fever pitch.
One indication of how profoundly the situation has changed: CoreLogic’s latest home-price index (HPI) report now predicts that the cost of a house in Denver will dip by only a tiny 0.2 percent by July 2021.
Selma Hepp, CoreLogic’s deputy chief economist, didn’t address the huge prediction adjustment. But she notes via email that “with a 4.6 increase in home prices in June, Denver’s price growth is moderately slower than the 5.5 percent national HPI, however, still robust compared to some regions that have been notably impacted by the…
