Case-Shiller Index up in Denver area

Denver was one of only five metropolitan statistical areas analyzed by S&P Indices for its S&P/Case-Shiller Price Indices to see positive annual returns from 2011.

The Case-Shiller Index rose 0.5 percent in Denver year-over-year in February to 121.81.

Twenty MSAs were studied to compile the Case-Shiller Index for February 2012, with most seeing negative annual returns. Nine of the cities analyzed and both composites hit new post-recession lows.

The 10-City Composite showed an annual decline of 3.6 percent to 146.9 and the 20-City Composite showed a decline of 3.5 percent to 134.2.

“While there might be pieces of good news in this report, such as some improvement in many annual rates of return, February 2012 data confirm that, broadly speaking, home prices continued to decline in the early months of the year,´ said David Blitzer, chairman of the Index Committee at S&P Indices.

Atlanta saw the biggest decline in returns, dropping 17.3 percent year-over-year, marking the fifth consecutive month that the city has seen double-digit decreases.