While Colorado is not immune to the sting of the recession and the slowest housing market in recent history, the Office of Federal Housing Enterprise Oversight's latest appreciation rate rankings show the state and its cities are not hurting as much as many other states.
With an appreciate rate of -2.61 percent for 2008, Colorado ranked 17th among 50 states and the District of Columbia. At the top of the pile was North Dakota with an appreciation rate of 1.89 percent for the year, while Nevada was at the bottom with a -28.24 percent appreciation rate.
Colorado’s metropolitan statistical areas also had a strong showing on a list of 292 MSA’s nationwide, with Boulder cracking the top 20 at 17 with an appreciation rate for last year of 2.99 percent. It is joined by cities from Alabama, Texas, Washington, both Dakotas, both Carolinas and New York; Decatur, Ala., took the top spot with an appreciation rate of 6.58 percent for 2008.
None of Colorado’s cities made the bottom 20 for appreciation rate, though Greeley had the poorest showing, coming in at 224th with a rate of -7.25 percent. The cities making up the bottom 20 were all in California, Florida and one in Nevada. Overall, few states and cities escaped the drop in appreciation rates last year.
Here’s a look at how Colorado and its cities ranked and their housing prices have performed over the last five years:
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