Top business stories of 2016: Denver home prices stay hot, but rent gains cooling
Metro Denver home prices appreciated 8 to 12 percent last year, continuing to outstrip the national average, wage gains and the overall rate of inflation for the fifth year in a row.
The average price of a home sold in metro Denver crossed the $400,000 mark in November, while the median price was around $350,000, according to the Denver Metro Association of Realtors.
Despite higher prices, the inventory of homes available for sale remained constricted throughout the year and new lending disclosure rules and a shortage of appraisers stretched out closing times.
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