The Western Real Estate market continues to see its ups and downs this week, as reported by several of our local market experts.

Judith Clausen in Denver, Colorado, reports that homes in her area are at or near their bottom.

Prices fell 2.71 percent from March to April, she says, and compared with 2007, average home prices have fallen a whopping 17 percent.

Clausen says this was a much needed correction in her market, which was inflated from double-digit growth in the 1990's.

Over in Santa Clara, California, Pat Dulleck has some better news

Sales have been increasing since the beginning of the year, she says, and current pending sales are about double the January number.

Buyers can find excellent prices on homes, Dulleck says, and, with the arrival of higher loan limits, can find some great low mortgage rates.

Over in Cheyenne, Wyoming, things haven't been going quite as well.

Connie Webb, our market expert there, reports that prices have just begun to deflate in her area, and sales are now down slightly.

Increasing inventory has slowed the market, she says, and Cheyenne will likely see more falling prices, averaging a 4.2 percent drop for the year.

That's all for our Western Regional Report this week. Be sure to check back for information on your area.

Published: May 15, 2008

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