USA: Mountain State Housing Markets Improving

USA: Mountain State Housing Markets ImprovingResidential housing in the mountain states of Colorado, Utah and New Mexico is looking stronger than many others, but that’s partly because the comeback hasn’t been as steep.

Simply put, homes in the region didn’t appreciate in value over the last decade as much as in the coastal regions, Arizona or Nevada. What didn’t go up much before the bubble burst in 2008 didn’t go down much once it did. Homes certainly lost value, but owners don’t have to regain as much ground to attain their earlier equity.

“We didn’t experience the bubble that California, Florida, Arizona and Nevada did,” said Thomas Thibodeau, a residential real estate expert at the University of Colorado’s Leeds School of Business. “Prices in Denver came down about 14 percent, peak to trough, and it now looks like the decline has come to an end.”

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