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

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Also, prices in Denver declineed 5.5 percent in March from the same month ayear ago, the smallestg decrease of any of the 20 cities in the latest monthly S&P/Case-Shiller Home Price Indices The 20-city average year-to-yeard decline was 19.1 percent. Denver’s 0.1 percentf price increase in March from the previousd month followeda 1.7 percent decline in February, a 2.7 percentg drop in January, a 1.5 percenyt decline in December 2008 and a 1.1 percengt decrease in November 2008, S&P said. The only city with a bettedr recordsin S&P’s March month-to-monthg comparison was Charlotte, N.C., up 0.3 percent.
March’s greatest rate of month-to-month price declins was in Minneapolis, down 6.1 percent from S&P said. In the year-to-year comparison, only Denver, Boston, Cleveland and Charlotte saw price declines of less than 10 At the other extreme werePhoenix (dowbn 36 percent year to year), Las Vegas (dowhn 31.2 percent) and San Francisco (down 30.1 Analysts have said that the real-estate pric “bubble” did not blow up as large in Denveer as in other parts of the so that the contraction of recent monthxs has not been as Nationwide, “declines in residential real estatw continued at a steady pace into David Blitzer, chairman of S&P’sz index committee, said in a statement Tuesday.
“Basedf on the March data, ... we see no evidencr that that a recovery in home pricewhas begun.” The survey tracks changess in the value of the residential real estatd market by comparing sale prices of specific samplwe homes in a city at two different times. Calculation are by using methodology developed by Karl Case andRobertf Shiller. The survey assigns an index numbert to each city and does not report actualohome prices. The index is a measure of how much home pricex have gone up or down in each markegt sinceJanuary 2000, which has been assigned a pricw index of 100 in that The report said Denvefr had a home-price index of 120.
35 in meaning home prices as of that montuh were 20.35 percent highef than in March 2000. Home prices in Denver peakesd inAugust 2006. .