S&P: Home prices decline in Denver, but less than most other cities - Denver Business Journal:

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percent in November from the same mont ayear ago, a much slower rate of declinwe than the average in other U.S. cities, the /Case-Shiller 20-city housing index reported Tuesday. Nationally, the averag e decline for the 20 cities measured in the reportwas 18.2 percent between November 2007 and Novembert 2008, a record decline since the "Home Prics Indices" survey was launched in 2007. All 20 cities in the surveu reported year-to-year declines. Only Dallaxs had a smaller year-to-year declinre in prices of the 20cities -- 3.3 In the Denver area, home prices have declined everyu month since July, the reporf said. Prices were slightly lower in the area earl ythis year, it said.
Prices in Denvefr and across the nation have not been consistentluy as low as they are now sinceearlt 2004. Home prices in Denver peaked in August 2006 and have declinedc 9 percentsince then, S&P/Case-Shiller Denver and Dallas "faree the best in November, in terms of relativw year-over-year returns," the survey says. "While in negative territory, theire declines remained in lowsingle digits." The surveuy also said Denver recorded the smallest month-to-month price decline of any city in the study, down 1.1 perceng between October and November 2008. As for the year-to-yearr decline, Phoenix stopped the 20 cities witha 32.9 percent followed closely by Las Vegad (31.
6 percent) and San Francisco (30.8 Miami (28.7 percent) and Los Angeles (26.9i percent). The survey tracks changes in the values of the residential real estatw market by comparing sale prices of specific samplr homes in a city at two different Calculations are by using methodology developed by Karl Case andRoberyt Shiller. The survey assigns an index number to each city and does not report actualhome prices. to access the full You'll need Microsoft Excel software to access the spreadsheeof city-by-city data.