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From Standard & Poor's and Fiserv
Denver has posted positive home price gains on the Standard and Poor/Case-Shiller Home Prices Index for three consecutive months through May 2009.
In the S&P report David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, “The pace of descent in home price values appears to be slowing.” Which is welcome positive news for the overall economy.
Published the last Tuesday of every month, the S&P/Case-Shiller Home Price Indices are designed to track the cost of a typical single-family home in metropolitan areas across the United States.
Areas still feeling the pinch of the economy revealed in the report include: Las Vegas, Los Angeles, Miami, Phoenix, Seattle and Tampa posting their lowest index levels in May after their previous peaks. The cities with the most extreme price dips since their peaks are Phoenix and Las Vegas.
The report is a major indication Denver home prices are trending up wards. This is great news for sellers and should serve as fuel for first time home buyers interested in taking advantage for the $8,000 tax credit.
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