Analysis by Cherry Point Properties of Denver’s historical Case Shiller Home Price Indices reports, indicates Denver has the 2nd strongest market recovery in the country, as compared to the other 19 metropolitan areas tracked by the Case Shiller report.
Denver’s index is down just 5% below its peak in August 2006.
This is second only to the Dallas market, with is down just 4% from its peak in July 2007. Boston and Charlotte MSAs are down 13% and 14% from their respective peaks, and the Cleveland MSA rounds out the top 5 most recovered markets at just 17% down from its peak. Las Vegas, Phoenix and Miami MSAs are the poorest performing markets, down 59%, 48% and 47% from their peaks. The average of the 20 markets was a 29% decline from peak.
Denver continued to show gains in home price appreciation according to the recent Case Shiller Home Price Indices report.
The report covers data from the month of August, Denver’s un-adjusted index increased 5.5% from August 2011 to August 2012 (no seasonal adjustment). The index increased .5% from the previous month and 1.3% from the June/July average.