Denver Home Values Experience Steepest Decline in U.S., Impacting Local Real Estate Market
Denver has experienced a significant decline in home values, with a 2.2% drop from February 2025 to February 2026, according to the S&P Cotality Case-Shiller Price Index. This decline is the steepest among major U.S. metropolitan areas, surpassing cities like Tampa, Seattle, and Phoenix. The national average, in contrast, saw a 0.7% increase in home values over the same period. Experts attribute the downturn to factors originating in the Sunbelt region, which have now extended to areas like Colorado. The Denver housing market has been under pressure due to rising property insurance costs, increased real estate inventory, and a decline in the condo and townhome market. Reports indicate that nearly 16% of Denver's active home listings have undergone multiple price cuts, significantly higher than the national average of 10.7%. Additionally, multi-home units in Denver lost about 7% of their value from November 2024 to 2025, and single-family homes are taking longer to sell.