Colorado’s northern Front Range has the hottest housing markets in the country, with four metro areas setting records last month for gains in home prices.
Denver, Boulder, Fort Collins and Greeley all saw the median price of a home sold climb to a new high in March. Only three other cities in the U.S. had that distinction.
“March was very much dominated by the Colorado markets,” said Daren Blomquist, a vice president with RealtyTrac, a real estate information provider in Irvine, Calif.
The double-digit home price gains have far outstripped income gains along the Front Range and can’t go on indefinitely, he said, adding that he expects a correction in the coming months.