Price appreciation is shifting to price depreciation for a rising share of homes across the country, although metro Denver seems to be avoiding the worst of that trend, according to a report Monday from Weiss Residential Research.
In July, 56.8 percent of U.S. homes were appreciating at an annual rate of 1.5 percent, down from a 65.2 percent appreciating ratio back in July 2014.
In metro Denver, nine out of 10 homes were still appreciating, the second best showing of any city after Reno, Nev. Fort Collins did fourth best on that ranking, with 86.5 percent of homes appreciating 1.5 percent or more.
Nationally, the share of homes depreciating more than 1.5 percent annually has shot up to 23.4 percent of the total in July from 7.6 percent the same month a year earlier.
“While a majority of homes nationwide is still gaining value, the national trend is clearly downward,” Weiss said.
The firm, affiliated with Owners.com, cautions buyers and investors to be on the watch for price reversals that could result in them overpaying.
