PMI Mortgage Insurance Company released their 2008 3rd quarter “Market Risk Index” with good news for Denver.
January 18, 2009
The Denver/Aurora Colorado’s real estate residential market is faring considerably better than most of the 50 U.S. cities measured in the PMI’s “Market Risk Index”. This comprehensive risk index uses economic, housing, employment, foreclosure activity, and additional indicators to forecast future real estate activity.
Denver’s risk index rank was one of the 10 lowest cities in the U.S. According to PMI Mortgage Insurance Company’s 3rd quarter/2008 report, Denver received a risk index rating status as “minimal” with a score of 4.1) – meaning, we are only at a 4.1 risk of home prices dropping beyond what they are today. While this index doesn’t predict future appreciations, it certainly inspires confidence that the Denver market is stabilizing. To gain further perspective on Denver’s low rating, take a look at the following areas with the highest risk rank of 99.8 to 99.9:
Riverside-San Bernardino-Ontario CA
Miami-Miami Beach-Kendall FL
Fort Lauderdale-Pompano Beach-Deerfield Beach FL
Los Angeles-Long Beach-Glendale CA
If your city is in one of the “red-zones”, and you are considering purchasing property in Denver or a Denver suburb, feel free to give me a call.
