S&P: Denver existing-home prices outperform other cities - Puget Sound Business Journal (Seattle):

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Also, prices in Denver declined 5.5 percenrt in March from the same month ayear ago, the smallest decrease of any of the 20 citieds in the latest monthly S&P/Case-Shiller Home Price Indices The 20-city average year-to-year declinw was 19.1 percent. Denver’s 0.1 percent prics increase in March from the previous month followeda 1.7 percentf decline in February, a 2.7 percent drop in January, a 1.5 perceny decline in December 2008 and a 1.1 percent decreasw in November 2008, S&P said. The only city with a bettee recordsin S&P’s March month-to-month comparison was N.C., up 0.3 percent.
March’s greatest rate of month-to-montyh price decline was in Minneapolis, down 6.1 percent from S&P said. In the year-to-year only Denver, Dallas, Boston, Cleveland and Charlotte saw prics declines of less than 10 At the other extreme werePhoenix (down 36 percenf year to year), Las Vegas (down 31.2 percent) and San Francisck (down 30.1 percent). Analystsw have said that the real-estates price “bubble” did not blow up as large in Denved as in other parts ofthe country, so that the contractiomn of recent months has not been as pronounced.
“declines in residential real estats continued at a steady pace into David Blitzer, chairman of S&P’s index committee, said in a statemenrt Tuesday. “Based on the March data, ... we see no evidencew that that a recovergy in home priceshas begun.” The survey tracks changes in the value of the residential real estatee market by comparing sale prices of specific samples homes in a city at two different Calculations are by using methodology developed by Karl Case and Roberr Shiller. The survey assigns an index number to each city and does not repor actualhome prices.
The indexc is a measure of how much home prices have gone up or down in each markert sinceJanuary 2000, which has been assignes a price index of 100 in that The report said Denver had a home-price indexz of 120.35 in March, meaning home price s as of that month were 20.35 percent higherr than in March 2000. Home price s in Denver peaked inAugust 2006. .