The latest numbers from Standard and Poor's Case-Shiller home price index show prices on the rise for the six month in a row and the highest prices in Denver since October of 2008.

Cisneros was the HUD secretary during the Clinton administration. He now works for homebuilding investment company City View as the executive chairman and says he believes home prices are on the up and up.

"It's a pretty good indicator that the housing markets are rebounding. People have been waiting for the bottom of the market. We're probably there and climbing out and I think that's clear in Colorado," Cisneros said.

Cisneros says he believes much of the price spike comes from the first-time homebuyer credit rolled out by the Obama administration earlier this year. The credit is set to expire Nov. 30 and the former HUD secretary expressed concerns about the impact that could have on home sales.

"I'm hopeful that the federal government will recognize the role that housing plays in the overall economy. It's about 20 percent of GDP. It's hard to imagine a national recovery overall without the housing sector carrying its weight as it usually does," Cisneros said.

Cisneros was set to meet with Denver Mayor John Hickenlooper and the Urban Land Institute on Wednesday morning to talk about building and planning for mixed incomes.

The group will also tour a City View development called Peloton in Boulder that is currently selling property.