Denver area homes prices seem unfazed by the oil and gas downturn. Annual appreciation is still among the highest in the nation – at about 10 percent.
While the oil and gas industry has struggled with low prices and layoffs, the slowdown has not crept into housing. A previous crash in oil prices in the 1980s led to a broad downturn in Denver.
But for now, unemployment remains low and home prices have are remarkably strong, according to the S&P Case Shiller Home Price Index. Denver was just behind Portland and Seattle for the biggest annual price jumps in March.
Denver is not as dependent on oil and gas jobs as it was in the past. Downtown offices have diversified a lot since the 1980s. Plus, Denver and Colorado are among the fastest growing places in the county.