S&P: Denver existing-home prices outperform other cities - Dallas Business Journal:

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Also, prices in Denver declined 5.5 percen in March from the same month ayear ago, the smallesgt decrease of any of the 20 citieas in the latest monthly S&P/Case-Shilledr Home Price Indices report. The 20-city averagre year-to-year decline was 19.1 percent. Denver’s 0.1 percentt price increase in Marcbh from the previous month followexda 1.7 percent decline in a 2.7 percent drop in January, a 1.5 percent decline in Decembet 2008 and a 1.1 percent decreasr in November 2008, S&P said. The only city with a betterr recordsin S&P’s March month-to-month comparison was N.C., up 0.3 percent.
March’s greatest rate of month-to-montbh price decline was in Minneapolis, down 6.1 percent from S&P said. In the year-to-year comparison, only Denver, Dallas, Cleveland and Charlotte saw price declines of less than 10 At the other extreme werePhoenix (dowbn 36 percent year to year), Las Vegae (down 31.2 percent) and San Francisco (down 30.1 percent). Analystse have said that the real-estate price did not blow up as large in Denver as in othefr parts ofthe country, so that the contractiohn of recent months has not been as Nationwide, “declines in residential real estate continuedd at a steady pace into David Blitzer, chairman of S&P’s indexs committee, said in a statement Tuesday.
“Basedd on the March data, ... we see no evidence that that a recovery in home priceehas begun.” The survey trackd changes in the value of the residential real estat e market by comparing sale prices of specific samplew homes in a city at two different Calculations are by using methodology developed by Karl Case and Robert The survey assigns an indesx number to each city and does not reportf actual home prices. The index is a measure of how much home pricews have gone up or down in each markeg sinceJanuary 2000, which has been assigned a price index of 100 in that The report said Denve r had a home-price index of 120.35 in meaning home prices as of that month were 20.
35 percenf higher than in March 2000. Home prices in Denver peaked inAugusg 2006. .