Nation outpaces Denver in decline in home prices
John Rebchook, Rocky Mountain News
Wednesday, September 26, 2007
Home prices in the Denver area have fallen much less than the nation as a whole, according to a closely watched, national report.
The S&P/Case-Shiller Home Price Indices shows that home prices in the Denver area dropped by 0.7 percent through July, compared to a 3.9 percent drop for the composite of all 20 cities.
And for the 10 cities, including Denver, which the report has been tracking longer than all 20 metropolitan areas, the trend was even more negative with a 4.5 percent drop.
The top performing metropolitan area was Seattle at 6.9 percent, followed by Charlotte, N.C., at 6 percent. Other cities faring better than Denver included Portland at 3.8 percent; Atlanta at 1.2 percent; and Dallas at 0.8 percent.
Metropolitan areas that showed bigger percentage declines than Denver included Boston, Chicago, Las Vegas, New York, Los Angeles, San Francisco and Washington, D.C.
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