After enduring many months of negative housing reports, the media finally had something positive to say about the Denver Real Estate market. When Denver topped the list of 20-city composites in the S&P/Case-Shiller Home Price Index it gave the local media something positive to say. The Rocky Mountain News reported, "The Denver-area housing market from May to June showed the most appreciation of 20 metropolitan areas tracked by the closely watched S&P/Case-Shiller Home Price Indices".
The statistics bring some hope. The Rocky Mountain News quoted David Blitzer, chairman of the Index Committee at Standard & Poor's, "Depending on where you focus the details of the report, you can see some different stories on where home prices are headed. Record year-over-year declines were reported in both the 10-city and 20-city composites in June; however, they are very close to the values report in May. The rate of home price declines may be slowing". So is this a seasonal change or a signal that the market is stabilizing?
The Denver Post answered the question in an interview with Will Roberts, incoming president of the Denver Board of Realtors, reporting that the Denver real estate market could see growth in the Spring of 2009. Will Roberts predicts, "I think right now our market is going through recovery. By October or November this market will really bottom out. Then in the next six months we'll be stable and we'll see some growth in April and May. I believe Colorado will lead the nation out of this recession."