The latest survey by the Federal Housing Finance Agency finds that all metro markets along the Front Range experienced average home price appreciation in the first quarter of 2009, possibly an indication that the U.S. News/Moody's Economy.com projections have already taken hold.

The FHFS's House Price Index - which surveys 292 metropolitan areas - showed that prices in the Fort Collins-Loveland market nudged up 0.3 percent in the first quarter (ending March 31), maintaining momentum from 0.49 percent gain in the fourth quarter 2008. The Greeley market enjoyed a robust 3.83 percent gain the first quarter - the strongest in Colorado - bouncing back from 1.39 percent drop in the fourth quarter of 2008.

Up and down the Front Range, markets reported appreciation gains in the first quarter, including Boulder, 0.15 percent; Colorado Springs, 0.22; Denver-Aurora-Broomfield, 1.56 percent, and Pueblo, 0.7 percent. Statewide, Colorado home prices registered a 0.7 percent increase for the quarter.

Compared to the same point in 2008, Colorado prices are showing stability compared to the rest of the country. While prices declined 7.14 percent nationally on an annual basis, Colorado prices were down just 1.7 percent - No. 13 among all states. Locally, Fort Collins-Loveland prices were essentially flat over the past year (93rd nationally) with 0.12 percent decline, while Greeley prices were down 0.82 percent (124th nationally). Boulder prices grew 1.99 percent for the 12-month period, and Denver-Aurora-Broomfield increased 0.8 percent.

The Group Real Estate Insider. July 2009. Front Range Housing values already on the Rise. Fort Collins, Colorado. Volume 33, No. 6.