‘Average’ on index means Colorado home price changes better than many

Posted by DB Wilson on Wednesday, July 27th, 2011 at 12:04pm.

Colorado cities – so often on or near the top 20 in the nation for home appreciation rates – were mostly average performers in the Federal Housing Finance Agency’s first quarter of 2011 House Price Index.

Boulder County ranked 173 out of 309 metropolitan statistical areas, the third highest of seven Colorado metros on the list, with home prices dropping 2.76 percent compared with the year before.

The Fort Collins-Loveland metro area ranked the highest among the Colorado metro areas on the list at 107, with Larimer County home prices dipping just 1.49 percent year-over-year.

Grand Junction’s prices sunk the lowest – by 10.67 percent – in the first quarter compared with 2010, earning it a ranking of 303 and a place in the bottom 20 for appreciation rates.

Nationally, home prices fell 5.5 percent in the first quarter compared with the first quarter of 2010, and Colorado’s dropped 6.03 percent. It ranked 35 out of 51 states for home price appreciation rates, though it tied with Minnesota for the year-over-year rate.

Alaska’s home prices held up the best compared with the nation, increasing 2.73 percent in the first quarter of 2011 compared with the same period last year, followed by West Virginia (2.24 percent), North Dakota (1.08 percent), Arkansas (-0.50 percent) and Rhode Island (-0.52 percent).

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