Real Estate Insider
A Publication Of The Group, Inc.
Vol. 35, No. 6
July 2011
Putting the Case-Shiller Index and local home values in perspective Chin up everyone. There’s cause to say the glass is half full when it comes to local housing prices. We’re frequently reminded of the decline in national home prices since the housing market peaked in 2006. The oft-quoted Case-Shiller U.S. National Home Price Index retells this story each quarter to the U.S. financial press. However, the Case-Shiller Index, and the headlines that result, lack the perspective of our local picture. When we examine our Northern Colorado markets compared to the rest of the country, we find ourselves in a much stronger position relative to most other cities in the U.S. The following graph shows the total price change from the housing peak for the 20 cities in the Case-Shiller Index and for our local markets.
an d W as hi ng to At n la nt a N ew Yo rk C ha rlo tte C le ve la Bo nd st on G re el ey De nv er Da lla s Fo rt C ol lin s/ L
tle
-60%
-55.2%
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-58.3%
-50%
-32.7%
-10.9%
-11.26%
-16.1%
-18.7%
-23.5%
-25.6%
-25.9%
-26.7%
-3.61%
Source: S&P/Case-Shiller Home Price Index and www.fhfa.org for Greeley, Fort Collins and Loveland
-38.8%
-40%
-36.7%
-30%
-50.4%
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-28.9%
-20%
-18.9%
-10%
-7.7%
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go ca
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s
is ol
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-37.5%
ap
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s
An
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an
Di
Fr
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Sa
-37.9%
Sa
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-45.7%
tro De
-46.1%
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CUMULATIVE PRICE DECLINES FROM PEAK