Home prices in metro Denver fell 4.8 percent for the 12 months ending in May. The decline was the third-smallest among the 20 cities tracked by the Standard & Poor's/Case-Shiller 20-city index, after Charlotte, N.C., and Dallas.
Between March and May, prices actually rose 1 percent in metro Denver, which could point to more stable home prices here in the months ahead. . . . the value of housing in Detroit is now lower than it was in 2000. . . .
Las Vegas recorded the worst drop, with prices plunging 28.4 percent in the month. Miami came in a close second, with prices down 28.3 percent.
Declining domestic auto industry fortunes suggest that Detroit has much more bad news to experience before hitting bottom.