Home values continue to surge in Denver, with a new report now saying that the metropolitan area's annual appreciation increased the fastest of 35 markets.
In second place was San Jose in California's Silicon Valley. Zillow, the source of the new numbers, pins Denver's status on its booming technology sector.
Home values rose almost 15 percent in Denver from May 2014 to this May, according to Zillow. The average home price in Denver was just under $300,000, and values in Denver are expected to rise almost 6 percent in the year ahead.
Zillow also says rents continue to go up as well. They rose more than 12 percent in metro Denver, and are forecast to grow another 5.7 percent in the coming year.
U.S. home values grew at an annual rate of 3 percent in May, to $179,200 in the Zillow index. National home values were still nearly 9 percent below the housing-bubble peak of $196,400, a record set in April 2007, before the housing bust drove the country into a prolonged recession.
