Denver Area Home Prices In Decline
The Denver area isnt the only metro area to see its housing prices decline. 14 other U.S. cities (out of the 20 tracked by S&P/Case-Shiller) also showed a year-over-year price drop in September, and 17 other cities also saw a month-to-month decline. Despite this overall trend, the average price for all 20 cities rose 0.6 percent between September 2009 and September 2010, thanks to huge price increases in San Francisco, San Diego, Washington, and Los Angeles.
The recent decline in Denver-area home prices comes following a long period of rising prices. The metro area saw year-over-year price increases of 1.8 percent in June, 3.6 percent in May, 4.4 percent in April, 4.1 percent in March, 3.6 percent in February, 2.6 percent in January, 1.2 percent in December 2009 and 0.5 percent in November 2009. Prior to that, though, Denver saw 36 straight months of year-over-year price declines.