The most recent measure of home-price appreciation by S&P/Case-Shiller found the Denver market to continue to improve.  According to the June 20-city reading, the 1.8% gain in the year-over-year measure was its 8th consecutive increase and placed it at 11th among the markets in the period, while its 0.7% gain from May was only its 4th consecutive monthly gain.  As well, the average rate of increase for home appreciation in the 20-city measure surpassed both measures for the Denver market with respective readings of 4.2% and 1.0%.

The measure of home price appreciation posted its 3rd consecutive month of increases with a 1.0% gain in June from May and an increase of 3.6% in the past year, report the firms of Standard & Poors and Case-Shiller.  The 20-city measure found price appreciation occurred in 19 of the markets from May, with Las Vegas being the only market to decline in the period with a measure of 0.6%.

The Federal Deposit Insurance Corp. reports that its measure of net income made by banks increased to a near 3-year high in the 2nd quarter.  Led by big banks, the measure overcame $4.4 billion decline recorded in 2nd quarter of 2009 by $26 billion in the period.  Additionally, while the list of problem banks increased from the 1st quarter measure of 775 to 829, the 1.4% decline in lending in the period is far less than the 7.5% decline recorded in the year-ago measure, indicating that the lending standards for some forms of credit are loosening.

The index of consumer confidence increased 2.5-points from July to post 53.5 in August, reports the Conference Board, who conducts the survey. The measure is used to gauge consumer spending.

The SWC of East 17th Avenue and Lafayette Street has been chosen as the site of a new 95,000 SF medical office building.  To break ground in the middle of next year, the facility has already locked a tenant for 25.0% of the building.  Current plans for the building include retail and restaurant space on the ground floor, with floors 5-8 designed to offer floor plates as large as 25,000 SF.

The town of Castle Rock has announced that it will no longer offer shuttle bus service.  Current budget woes were blamed for the decision as well as the installation of a fee for the service in March that served to weaken ridership.

The planned Josephine Commons senior housing project is the recipient of a $1.25 million tax credit from the Colorado Housing and Finance Authority.  Approved by the city council of Lafayette two weeks ago, the initial phase of the development is to be a 74-unit apartment building.

The measure of personal spending improved in July, reports the U.S. Commerce Department.  The agency reports the measure increased 0.4% in the period, or $44.1 billion.  Additionally, the personal income measure increased 0.2%, or $30 billion.

The Assessor Office for Jefferson County reports that the county is forecast to experience a significant decline in general revenue funds in 2012 due to the decline in value of commercial properties.  According to the office, the value of commercial properties will decrease by about 7.0% in the year, affecting the amount received in general revenue funds by about $8 million.

Frontier Airlines is to increase its destination base from Denver International Airport when it begins once-weekly service to the Costa Rican city of Liberia in February.  The service is to be offered seasonally.

The filing of bankruptcy by Mexicana Airlines has resulted in the loss of flights by the airline from Denver International Airport.  The airline provided flights from the airport to Mexico City.

The U.S. Commerce Department has revised its measure of Gross Domestic Product growth for the 2nd quarter of 2010. The agency now reports that the measure increased by 1.6% in the period, which is a decline of 0.8% the initial estimate of 2.4%.

Recent surveys of economic strength in the Denver metro area posed mixed results in June.  Performed jointly by the University of Colorado Denver Business School and the Denver chapter of the National Association of Purchasing Management, the Purchasing Managers Index for manufacturing decreased 5.9-points from June to post 51.43 in June, while the services index posted a increase of 6.01-points to 53.75.  Both measures consider a score above 50 to indicate positive growth.

A report released by the Mortgage Bankers Association indicates that the measure of loans delinquent by 30 days increased from the 1st quarter measure of 3.31% to post 3.51% in the 2nd quarter.  The increase is considered attributable to the weak job market.

CB Richard Ellis agents Frank Kelley and Doug Bakke aided Stream Realty Partners in the purchase of the 30,119 SF flex building at 7579 West 103rd Avenue in Westminster.  General America Corp., the seller, sold the property for an undisclosed amount via Grubb&Ellis Co. agents Mark Stables, David Horowitz and Jim Kerrigan.

The Legend Oaks Apartment complex in Denver has been exchanged between seller Legend Oak Apartments Inc. and buyer Wasatch Property Management Inc. for $43.92 million, or $90,000/unit.  Totaling 488 units at 1250 South Dayton Court, the transaction was managed on behalf of the seller by Moran agent Pamela Koster.

An office in the Meridian area of Douglas County was exchanged between buyer WYOTEX Oil Co. and seller Fairway Office Properties LLC for $2.5 million, or $123/SF.  Totaling 20,300 SF at 9563 South Kingston Court, the property is known as Building B of Offices at the Fairway.

The historic 110,000 SF Hangar 2 building along East Academy Boulevard has been exchanged between buyer Hangar 2 Partners LLC and seller Wings Over the Rockies Air&Space Museum for $2 million, or $18/SF.  Part of the former Lowry Air Force Base in Denver, the property is to be resurrected as a mixed-use development that will open in the spring of 2011.

First American CoreLogic reports that the number of homes whose value has fallen below that of their mortgage has declined to 23.0%, or 11 million mortgages nationwide. Among the states, Nevada, Arizona, Florida, Michigan, and California posted the highest concentrations.