Denver Real Estate looks safer than most for the next two years.

The Economic Real Estate Trends Fall 2008 report was released earlier this month. Various topics are covered and anyone interested in an educated guess as to the future of the nation’s real estate market would be well served to check it out in detail.

The report focuses on the risk of price declines across the country over the next two years. The PMI Group, Inc puts out the report as a summary of their ongoing findings in an attempt to calculate the risk associated with insuring mortgages throughout the country. PMI is the predominant private mortgage insurance company for non FHA/VA loans requiring mortgage insurance at the time of origination.

Below is the chart that I found most interesting.

The percentages listed in the legend are the percent chance that a given area on the map will have lower prices 2 years from today than it does now. Denver looks pretty solid compared to some of the alternatives out west.

This report was published October 1st, 2008. I wonder how the New York City market as well as it’s surrounding bedroom communities might fare once the current financial sector job losses ripple through to Main Street? Certainly there are plenty of other industries in the area that will remain but Wall Street and Main Street may be more closely tied in NYC than in any other locale.

One last note… again, this report groups Denver and Aurora into one statistical category. That adds a little extra level of confidence for those of us actually living in Denver as to our prospects for future price declines.