Shelli Dore’s Real Estate Blog

Yes, home prices in the Denver area dropped 4 percent during the 12-month period that ended in December. But that was the smallest decline of the 20 metropolitan areas tracked in the closely watched S&P/Case-Shiller Home Prices Indices released Tuesday.

Overall, the 20 cities fell by an average 18.5 percent. 

It was the second piece of news in as many days that indicates the local real estate market is bucking a national trend of homes in a free fall, as the nation grapples with the worst housing crisis since the Great Depression.

On Monday, the Colorado Division of Housing reported that state foreclosure filings declined 2 percent in 2008 from 2007, the first drop since the state began tracking foreclosures six years ago. In the metro area, Denver County showed a 21 percent drop in filings.

Foreclosure sales were down even more, falling 16 percent, though many experts think that is largely due to temporary lender moratoriums on foreclosures.

While any decline in prices is "not happy news," the Denver-area housing market should hit the bottom no later than the end of third quarter of this year… Read on!

Your friend in the real estate business,

Shelli Dore

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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.