Denver Colorado home sale statistics are better than local or national media would lead you to believe. While the US National Home Price Index posted a record annual decline through August 2007, Denver Colorado home sale statistics remained stable. The old saying "the higher you rise the harder you fall," is coming down hard on some cities. At least that's what the data from the quarterly S&P/Case-Shiller® US National Home Price Index reveals.
This information covers the annual returns of the 10-City Composite and the 20-City Composite for August 2007. The 10-City Composite was down 5.0% from August 2006, which is a rate not seen since June 1991. The lowest on record was an annual decline of 6.3% recorded in April 1991. The 20-City Composite recorded an annual decline of 4.4%.
According to the report, “Only two metro areas – Denver and Detroit – showed improvement in their annual returns and even those were reports of slightly less negative numbers." Denver Colorado home sale statistics dropped less than a percentage at -0.4% and Detroit recorded a drop of -9.3%. While losing less than a percentage point in a year may not seem to be great news, that depends on where you live. Denver would be nearly 9 percentage points better than Detroit and a massive 10 points better than Tampa!
As has always been the case, Denver Colorado home sale statistics run counter cyclic to the rest of the nation. Lawrence Yun, National Association of Realtors® senior economist emphasized all real estate is local with naturally large variations within a given area. “Markets like Austin, Salt Lake City and Raleigh have been outperforming recently and will continue to do well next year,” Yun said. “Other areas like Denver and Wichita will likely move up in the price growth rankings due to very positive local economic developments.” - www.realtor.org
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