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RSS FeedCase-Shiller Price Index Shows Decline in Denver Values |
Posted at Denver Real Estate Blogspot by Judith Clausen
Dec. 27, 2007
Categorized in: Denver Market Info
The Case-Shiller Price Index, the 20-city composite index of real estate sales of the same house over time, reported a 1.8% price decline from October 2006 to October 2007 for Denver. Most local real estate experts fault the high number of foreclosures as one major cause of the decline, but because of the foreclosures prices in general have been dropping. The drop from September 2007 to October 2007 was 1.7%. But in the higher price ranges above $322,018 the drop wasn’t as severe, only .7%. In the lower tier of prices under $217,146 the drop is 7.3% which reflects the most common foreclosure price range in Colorado. In the middle tier of prices from $217,146 to $322,018, the drop was 1.2%.
Higher priced homes in the Denver real estate market have stayed steady since June 2007. Middle priced homes rose in July and August of 2007, but then started to decline in September and October. Lower priced homes showed a price incline steadily through the spring and early summer months, but began a precipitous decline in August culminating with the steep decline in October.
Denver’s market remains good for buyers, especially with interest rates staying steady and even declining in the last month. Higher priced homes haven’t increased in price and remain a good buy.
For more information contact me at 303-587-3509 or email Judith@Buyers-Advantage.net.
1. RE: Case-Shiller Price Index Shows Decline in Denver Values
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