More proof that the Denver real estate market is faring better than the rest of the country

TeamCox Realtors recently came across more encouraging news regarding the Denver real estate market. USA Today reported the results of the S&P/Case-Shiller Home Price Index last week – almost all (with the exception of Charlotte, North Carolina) of the surveyed metro areas saw price declines from March 2007 to March 2008.

There was a ray of hope in that the Denver real estate market once again fared much better than much of the nation. Denver posted a 5% decline in home prices, which was the fifth best number out the twenty areas surveyed. Only Charlotte, Dallas, Portland, and Seattle fared better than Denver. Metro areas enduring year over year 20+-percentage point declines in housing prices include Las Vegas, Miami, Phoenix, Los Angeles, San Diego and San Francisco.

The reason for this is simple – Denver did not experience the rapid price gains that many other areas experienced in recent years. Since the Denver housing market also weathered a deteriorating housing market long before the other areas, it is only natural to expect an earlier recovery. For more information on the state of the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.

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