The Denver metro area now leads the nation in fastest falling home values, according to the S&P Case-Shiller Home Price Index, bringing some relief to buyers and frustration for sellers.
Data from the S&P shows Denver metro home values dropped 2.2% in February compared to a year earlier — the largest decline of any metro area in the United States.
The Colorado Association of Realtors said the decline reflects a flattening of the market after years of above average prices increases.
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“When we zoom out and look at the long term trends over the last 15 years, the Denver Metro area has seen year-over-year price increases on average of about 7% every year, and that’s really large compared to the 5% that we saw nationally,” Colorado Association of Realtors spokesperson Cooper Thayer said…