08 August 2007

Meto Denver Home Prices Down

The median price for a single-family home dipped 1.7 percent to $255,000 compared with last year, and the median price for a condo dropped 3 percent to $158,000 in July.

The Denver Post is relying in regular commentator Gary Bauer, who is a professional acquitance and pretty good guy.

While Denver real estate conditiosn don't meet bubble bursting standards, a decline is still bad news, especially in light on meaningful, if low grade inflation. In inflation adjusted terms, Denver house prices are down about 5-6%, in an investment where most owners outside real estate bubbles expect to break even with infliation, but not to make a big profit.

I take particular note of statistics that show building permits up in Denver, while down in other metropolitan countries.

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