Denver Business Journal 1-15-08
The Denver-Aurora metropolitan statistical area is on the list of regions where home prices are likely to be lower in two years.
But the report issued Tuesday by PMI Mortgage Insurance Co. of Walnut Creek, Calif., doesn't place the risk of home prices falling in the region as a certainty.
The report is based on third-quarter data on mortgages, foreclosures, home prices, labor market statistics and offers metro areas a scale of one to 100. The scale translates to a percentage; a score of 50 indicates a 50 percent chance home prices will be lower in two years.
The score for the Denver-Aurora MSA -- which covers 10 counties including Denver, Jefferson, Adams, Arapahoe, Broomfield and Douglas -- is one. The same score is shared by the Cleveland area. Other metro areas, such as San Antonio, Pittsburgh and Dallas, were given a score of less than one.
The risk of home prices falling in two years is highest in California and Florida as well as in Las Vegas and Phoenix. The Riverside area of California had the highest risk score, at 94 percent, while the score for Las Vegas was 89 percent.
Wednesday, January 16, 2008
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