August Denver Home Price-Index vs. S&P Case-Shiller Indices

Standard & Poor Case-Shiller home price indices track home prices in 20 major cities. It is divided in a 10-city and a 20-city composite indices. The S&P/Case-Shiller Home Price Indices are calculated monthly using a three-month moving average.

This post compares the residential housing markets of Denver with the 2 composite indices.

The data is from Standard & Poor’s Case Shiller study released on October 25th. There is a two month lag.

The first chart below depicts the Denver home price index is unchanged June-July and slightly improved in August at 126.47. The Denver home prices did not rise at the dizzying rate of the 10 and 20-city composite indices and the correction has been relatively mild as well. The index peak was at August of 2006 at 140.28.

The second chart is the graph of year over year percentage changes showing improvements over the August of 2010. Although still negative, the prices are improving compared to the same period last year.

Finally, the last chart is a 6-month trend. It compares the current index with the average of the previous 6 months.

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The 10-city composite index includes Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco, Washington, D.C.

The 20-city composite index adds Atlanta, Charlotte, Cleveland, Dallas, Las Vegas, Minneapolis, Phoenix, Portland, Seattle, and Tampa.

The counties included in Denver-Aurora Metro area are Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park.

Source: S&P Case-Shiller – Analysis & Graphs: Hossein Tolooee, Metro RE Investment Group

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