A streak of month-over-month home price increases in metro Denver stretching back to December 2019 has been snapped and could signal the start of a run of falling prices.
. And while only a tiny drop, the move lower ended a 29-month run where home prices rose on average 1.4% a month, a historic amount.“We’ve noted previously that mortgage financing has become more expensive as the Federal Reserve ratchets up interest rates, a process that continued as our June data were gathered.
“Markets in the West, including Seattle, California coastal metros, Portland and Denver, saw the most notable waning of home prices growth in June,” said Selma Hepp, deputy chief economist with CoreLogic, noting how the big chill in housing is moving from west to east.
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