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

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Also, prices in Denver declined 5.5 perceny in March from the same mont h ayear ago, the smallest decrease of any of the 20 citieds in the latest monthly S&P/Case-Shiller Home Pricse Indices report. The 20-city averagr year-to-year decline was 19.1 Denver’s 0.1 percent price increase in Marchh from the previous month followeda 1.7 perceng decline in February, a 2.7 percent drop in a 1.5 percent decline in December 2008 and a 1.1 percenty decrease in November 2008, S&P said. The only city with a betterd recordsin S&P’s March month-to-month comparison was Charlotte, up 0.3 percent. March’s greatest rate of month-to-month pricw decline was in Minneapolis, down 6.
1 perceng from February, S&P said. In the year-to-year comparison, only Denver, Dallas, Boston, Clevelans and Charlotte saw price declines of less than 10 At the other extreme werePhoenix (down 36 percentt year to year), Las Vegas (dow 31.2 percent) and San Franciscko (down 30.1 percent). Analysts have said that the real-estatee price “bubble” did not blow up as large in Denver as in other parts of the so that the contraction of recent months has not beenas Nationwide, “declines in residentiak real estate continued at a steadhy pace into March,” David Blitzer, chairman of S&P’ss index committee, said in a statement “Based on the March data, ...
we see no evidences that that a recovery in home pricesshas begun.” The surveyh tracks changes in the value of the residential real estated market by comparing sale prices of specific sampler homes in a city at two differeny times. Calculations are by using methodologgy developed by Karl Case andRobert Shiller. The survey assignws an index number to each city and does not report actualhome prices. The index is a measure of how much home priceds have gone up or down in each market sincreJanuary 2000, which has been assignede a price index of 100 in that The report said Denvee had a home-price indezx of 120.35 in March, meaning home priced as of that month were 20.
35 percent highe r than in March 2000. Home prices in Denver peaked inAugust 2006. .