Metro Area Home Owners Get Bad News
DENVER (CBS4) – Some bad news for homeowners — house prices in Denver are now back to what they were in 2000.
A report from the real estate company Zillow says metro area home prices are 9.6 percent lower than a year ago and nearly 30 percent off their 2006 peak.
The number of families who are underwater, or owe more than their house is worth, rose to 41 percent last quarter.
In March more than a third of all homes sold in the metro area were sold for a loss.