The Standard & Poors/Case-Shiller Index for August 2008 has the Denver housing market not increasing for the first time in four months. But wait, the news isn’t all bad, while the Denver index didn’t increase, it remained at 0.0%, one of 4 markets in the 20 city index not in decline for this month. Over the past 12 months, Denver is down 5.1%, one of the lowest declines in the Index with positive or neutral movement the past four months. The overall Composite-20 Index is down 1.0% for the month and 16.6% for the previous 12 month period. Las Vegas is down 30.6% and Phoenix is down 30.7% over the previous 12 months.
This Index varies from others that compare all home sales in a month period since it compares same-home sales, or it measures the values of sales on the same properties over a period. The Case-Shiller Index rates 20 housing markets across the country and also has a Composite-10 and Composite-20 Index which are indexes combining the markets.
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