Denver home prices continue to outpace 20 major U.S. cities according to the most recent Case-Shiller “Residential Real Estate Price Index”. This is the second month in a row (let’s keep it going and hope for a trend) that the Denver real estate market has outperformed fellow U.S. cities in dropping home prices.
The study notes that Denver home prices showed a modest increase of 1.5% in April from March of 2009. Year-over-year comparisons in Denver home prices showed a decrease of -4.9%. For a bit of perspective – Dallas, coming in behind Denver at 2nd, showed a year-over-year change of -5% and Las Vegas weighed in with a brutal -32%
Interesting, this parallels with what we are seeing on the ground in Denver. The first-time tax credit and low interest rates seemed to get the ball rolling in the lower price points and the ripple effect is slowly moving up into the higher priced homes.
To review the full report: S&P Case Shiller Full Report Released
Michelle A. Potter
Denver Realtor
RE/MAX Professionals
