In an overall weak national housing market, the Denver-area showed signs of strength, ranking as the top market by one measure, according to the closely watched Case-Shiller report released Tuesday, December 27th.
Denver ranked No. 1 of the 20 MSA tracked in the S&P/Case-Shiller Home Price Indices as far as the seasonally adjusted change from September to October.
Denver showed a 0.5 percent gain by that metric, compared with an overall 0.6 percent drop for the 20 MSAs. Non-seasonally adjusted, Denver showed a 0.2 percent drop on a monthly basis, good enough for second place behind Phoenix, which showed a 0.3 percent gain, the only market in positive territory.
On a year-to-year basis, in October, Denver ranked No. 4 of the 20 MSAs tracked in the S&P/Case-Shiller Home Price Indices.
Denver showed a 0.9 percent year-over-year drop, compared with a 3.4 percent overall decline for the 20 cities . Only Detroit and Washington, D.C., with gains of 2.5 percent and 1.3 percent, were in positive territory. Dallas also bested Denver, with a 0.6 percent decline in the 12 months ending in October.
The 0.9 percent decline marked the 16th consecutive month of year-over-year declines for Denver, but it also was the lowest decline since July 2010, when the market fell by 0.1 percent from July 2009.
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