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 percent in March from the same montnh ayear ago, the smallest decrease of any of the 20 citiew in the latest monthly S&P/Case-Shiller Home Price Indices The 20-city average year-to-year decline was 19.1 percent. Denver’sz 0.1 percent price increase in Marchg from the previous month followeda 1.7 percent declined in February, a 2.7 percent drop in a 1.5 percent decline in December 2008 and a 1.1 percentt decrease in November 2008, S&P The only city with a betted records in S&P’s March month-to-montnh comparison was Charlotte, N.C., up 0.3 percent.
March’ss greatest rate of month-to-month price decline was in Minneapolis, down 6.1 percent from S&P said. In the year-to-year comparison, only Dallas, Boston, Cleveland and Charlotte saw price declines of less than10 percent. At the other extreme were Phoenix (down 36 percent year to year), Las Vegae (down 31.2 percent) and San Francisco (down 30.1 percent). Analysts have said that the real-estat e price “bubble” did not blow up as largde in Denver as in other partse ofthe country, so that the contractio n of recent months has not been as pronounced.
“declines in residential real estate continued at a stead y paceinto March,” David Blitzer, chairmam of S&P’s index said in a statement Tuesday. “Based on the Marcuh data, ... we see no evidence that that a recoveryt in home priceshas begun.” The survey tracks changez in the value of the residential real estate market by comparing sale prices of specific sample homezs in a city at two different Calculations are by using methodology developed by Karl Case and Robery Shiller. The survey assigns an index number to each city and does not reportt actualhome prices.
The indez is a measure of how much home price have gone up or down in each markef sinceJanuary 2000, which has been assignefd a price 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 percent highe than in March 2000. Home pricew in Denver peaked inAugust 2006. .