Denver Colorado Home Values Lead the Pack

Denver was the national leader of the pack for housing prices last year. Yes, home prices in the Denver area dropped 4 percent during the 12-month period that ended in December. But that was the smallest decline of the 20 metropolitan areas tracked in the closely watched S&P/Case-Shiller Home Prices. Overall, the 20 cities fell by an average 18.5 percent.

A separate report released by the Office of Federal Housing Enterprise Oversight, known as OFHEO, showed even better numbers than Case-Shiller.

OFHEO showed a 0.71 percent overall drop in home prices last year in a large swatch that encompasses Broomfield, Adams, Arapahoe, Denver, Jefferson, Douglas, Clear Creek, Gilpin, Elbert, and Park Counties. It also showed a 0.77 percent increase in the fourth quarter from a year earlier.

Colorado is bucking the national trend of homes in a free fall. And while any decline in prices is not happy news, the Denver-area housing market should hit bottom no later than the end of the third quarter of this year - and maybe as early as the end of the second quarter, or so experts believe.

"Denver was among the cities with the least run-up during the boom," said Karl Case, an economics professor at Wellesley College and founder of the Fiserve Case Shiller Weiss group that puts together the report with Standard and Poors. Case noted that from 2000 until the peak in August 2006, home prices in the Denver area rose by 40 percent, and have since given back less than 10 percent of the gains.

So, if you're selling a home in Colorado or hoping to buy something soon know that the market here is stable. If your plans to including buying or selling we hope you'll give us a call.

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Carrie and Kathy Sampron specialize in residential real estate in Highlands Ranch, Colorado as well as surrounding communities in the Denver Metropolitan Area. Contact Carrie and Kathy at (303) 931-3629 to list your property for sale or to purchase a property in Highlands Ranch, Denver, Lakewood, Littleton, Arvada, Centennial, Greenwood Village, Cherry Hills Village, Castle Rock, Parker, Aurora, or any other Metro Area city. We love your referrals!

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