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The Denver residential market is outperforming many other markets in the nation in terms of home price appreciation, according to S&P/Case-Shiller. In their most recent comparison of home-price appreciation among 20 metropolitan statistical areas in the country, Denver posted the 2nd lowest decline for the 12-month period ending in January 2009 (5.1%) and posted the 7th smallest decline of all markets surveyed for the period of December-January 2009 (2.7%). Dallas had the lowest nationwide decline at 4.9%. Nationwide, the appreciation rate among the 20 cities in the survey was found to have declined 19.0% from January 2008 and was led by the markets of Phoenix (35.0%), Las Vegas (32.5%), and San Francisco (32.4%). To read the complete article follow this link http://www.bizjournals.com/denver/stories/2009/03/30/daily20.html?ana=from_rss

Analysts have said that the real-estate price “bubble” did not blow up as large in Denver as in other parts of the country, so that the contraction of recent months has not been as pronounced. The report said Denver had a home-price index of 122.33 in January, meaning home prices as of that month were 22.33 percent higher than in January 2000. Home prices in Denver peaked in August 2006. Among the 20 cities studied by S&P, prices have declined an average 29 percent since they peaked in 2006.

Many analyst have said that Denver did not have the fast run up in prices from 2002-2006 than many other areas had during the same period. It has also been said that Denver’s foreclosures started earlier than many other areas and the foreclosure rate peaked in 2007. For several years, 2006 and 2007, Denver and Colorado led the nation in the number of foreclosures and now we’re not even in the top 10.

Is the housing slump over for Denver? Not by a long shot, but I’ll take all of the positive news that I can get.

Written By: John Dunn

You may contact John at 720-353-0353 or email at john@jdunnrealty.com. Please visit us online at www.CashFlowProperties.com or www.DenverPropertyManagement.com.

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