Battered Colorado Mortgage Markets In Bona Fide Recovery

By
Mortgage and Lending with First Time Home Buyer, Mortgage Rates, Pre-Approval NMLS 243370

Case-Shiller Monthly Change Nov 2009-Dec 2009

Using data compiled in December, Standard & Poors released its Case-Shiller Index Tuesday.  The report shows Colorado home prices down just 2.5% on an annual basis, a figure much lower than the 8.7% annual drop reported after Q3.

According to Case-Shiller representatives, the housing market is "in better shape than it was this time last year", but some of the summer's momentum has been lost. 15 of 20 tracked markets declined in value between November and December 2009.

Meanwhile, it's interesting to note the 5 markets that didn't decline -- Detroit, Los Angeles, Las Vegas, Phoenix and San Diego.  Each of these metro regions were among the hardest hit nationwide when home prices first broke.  Now, they're leading the pack in price recovery.

For some real estate investors, that's a positive signal.  But we also have to consider the Case-Shiller Index's flaws because they're big ones.

As examples:

  1. Case-Shiller data is reported on a 2-month lag
  2. The Case-Shiller sample set includes just 20 U.S. cities
  3. There's no "national real estate market" -- real estate is local

That said, the Case-Shiller Index is still important. As the most widely-used private sector housing index, Case-Shiller helps to identify broader Colorado housing trends and many people believe housing is a key element in the economic recovery.

If the markets that led the Colorado housing decline will lead the housing resurgence, December's data shows that full recovery is right around the corner.

Posted by

 

Thank you,


Ben Yost
Senior Loan Consultant

NMLS#   243370  LMB#  100023031

New American Funding
5299 DTC Blvd. Suite 300

Greenwood Village, CO 80111

 

Cell:     303.587.4297

Direct:  303.731.4718

Office:  877.884.3452 x4643
Fax:      303.889.5229
Email: 
ben.yost@nafinc.com
Web:  
www.newamericanagent.com/Benyost

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
mortgages
fha
denver
colorado
mortgage loans
mortgage rates
aurora
home loans
lenders
va
refinance
refinance rates
first time ho

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
196,598

Ben Yost - 303-587-4297

FHA, VA, Conventional - Mortgage Loans in De
Ask me a question
*
*
*
*
Spam prevention

Additional Information