Money.com sees Denver market bottoming in Q3

February 23, 2010 by Mimi Miller.

Denver, CORank: 37
Home price forecast: -7.8%
(one year, forecast through March 2010)
City stats
Population:
(2006) 2,408,750
Median family income:
(2008) $71,800
Home prices
Median home price:
(2008) $255,000
Affordability index:
(2008 median home price/family income) 3.6
Prices peaked in: 2006:Q1
Total climb during the boom:
(2000 to peak) 35.2%
Total decline so far:
(Peak through 2008) -9.5%
One-year change:
(Q4 2007 to Q4 2008) -4.3%
Forecast
Price change :
(from peak to bottom) -19.9%
When they’ll hit bottom: 2010:Q3
At bottom, prices will drop to levels last seen in: 2000:Q3
Notes: The 100 largest markets determined using 2006 Census population figures; metro areas are generally labeled by the largest city in that area. Price data are for single-family homes through the third quarter of 2008, the most recent data available. Forecast change from first quarter 2009 to first quarter 2010. Figures for Q42008 are estimated
Sources: Fiserv Lending Solutions, Moody’s Economy.com, Dutchess County Association of Realtors, Illinois Association of Realtors, Real Estate Center at Texas A&M University.

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