The Zillow Home Value Index for the United States decreased 1.8 percent from April 2011 to April 2012, falling to $147,300. In Colorado, the home value index rose 0.9 percent over the same period to $201,800.
In Colorado's metro areas,
from April 2011 to April 2011, home prices increased in Boulder, Denver metro and in the Ft. Collins metros. Prices decreased in Colorado Springs, Grand Junction and Pueblo over the same period. Grand Junction and Pueblo dropped by 7.2 percent and 5.7 percent, respectively.
Greeley data was not included in the report.
Change from April 2011 to April 2012:
Colo Springs -1.4
can be seen in the graph, in recent years, home prices have shown the
most stability in Boulder, Fort Collins and in Denver metro. These three
areas also have the highest median estimated value, according to
Estimated home value for each metro area for February 2012:
Colo Springs $179,400
Denver metro $208,000
Ft. Collins $218,100
Grand Junct $154,300
Grand Junction area has showed the most bubble-like behavior in its
run-up in prices in 2007 and 2008 before a significant decline over the
past 2 years.
Zillow home valuations, known as the
median "Zestimate valuation" should be taken with a grain of salt, but
in this case they do appear to be in line with other home price indices
and trends. The metro trends presented here match up well with the metro
trends provided by FHFA's quarterly reports on home prices in Colorado.
strongest Colorado job markets, found in Boulder, metro Denver and the
Ft. Collins area correspond with the highest home value estimates. The
continued small declines in prices reflects other indices, although the Case-Shiller and CoreLogic indices did show some small increases for prices during January and February, respectively.