City-by-city price comps
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Home prices are spiraling downward in the Mile-High City. Job growth also has slowed while sales volume showed an increase earlier this year. The city, which had one of the highest foreclosure rates in the nation in 2006, continued to be among the top 20 cities with the most filings last year, according to RealtyTrac. Single-family housing permits dropped by 50 percent from December 2007 to December 2008. | | Median price end of 2008: | $200,800 | | Median price end of 2007: | $230,100 | | Percent change: | -12.7 | | Projected change through Q3 2009: | -8.8% | | Affordability rating: | 0.0 | Foreclosures in 2008:
(1 for every 31 households) | 32,920 | Foreclosures in 2007:
(1 for every 38 households) | 26,632 | | Change in foreclosures: | 23.6% | | Expected to hit bottom: | Q2 2010 | | Percent drop needed to reach bottom: | -18.9% |
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