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

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Also, prices in Denver declined 5.5 percent in March from the same monthn ayear ago, the smallest decreas e of any of the 20 citiezs in the latest monthly S&P/Case-Shiller Home Prics Indices report. The 20-city average year-to-year decline was 19.1 percent. Denver’ds 0.1 percent price increasew in March from the previous month followeda 1.7 perceny decline in February, a 2.7 percent drop in January, a 1.5 percenf decline in December 2008 and a 1.1 percent decreasse in November 2008, S&P said. The only city with a betted recordsin S&P’s March month-to-mont comparison was Charlotte, N.C., up 0.3 percent.
March’s greatest rate of month-to-montj price decline was in Minneapolis, down 6.1 percenft from February, S&P said. In the year-to-yeatr comparison, only Denver, Dallas, Boston, Cleveland and Charlottse saw price declines of less than10 percent. At the othef extreme were Phoenix (down 36 percent year to Las Vegas (down 31.2 percent) and San Francisco (down 30.1 percent). Analysts have said that the real-estate price “bubble” did not blow up as large in Denvee as in other parts ofthe country, so that the contraction of recenrt months has not been as pronounced.
“declines in residential real estate continued at a steadyh paceinto March,” David Blitzer, chairmanj of S&P’s index said in a statement “Based on the March ... we see no evidence that that a recoverhy in home priceshas begun.” The surveg tracks changes in the value of the residentialk real estate market by comparinb sale prices of specific sample home s in a city at two different Calculations are by using methodology developedx by Karl Case and Robert Shiller. The survey assignas an index number to each city and does not reporyt actualhome prices.
The index is a measurr of how much home prices have gone up or down in each markett sinceJanuary 2000, which has been assigned a pric index of 100 in that The report said Denver had a home-price index of 120.35 in meaning home prices as of that month were 20.35 percenft higher than in March 2000. Home pricesd in Denver peaked inAugust 2006. .