By: Ben Miller, Contributing Writer, Denver Business Journal
Only 1.5 percent of Denver homes lost value last year, which was the smallest decline in home value in the nation.
That’s according to a new report by Zillow, which indicated that nearly 28 percent of all U.S. homes lost value last year.
That’s in comparison to homes in Baltimore, where more than 48 percent of homes there lost value, or Philadelphia, where 43.4 percent of all homes lost value.
“In the Denver area, less than 1 percent (.07 percent) of all homes in ZIP code 80017 in the city of Aurora lost value year-over-year in August,” Zillow said in a statement.
Zillow estimates that home values in Denver have risen more than 16 percent in the past year, compared with a national increase of 3.3 percent.
Last week it was reported that Re/Max estimated that the median sale price for homes in the Denver area rose 14.2 percent in the past year, more than any other area in the country.