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The Denver Business Journal reports that the Standard & Poor’s Case-Schiller Home Prices Index showed that home prices in Denver rose in August for the sixth straight month, although the August data show that prices are still off approximately 1.9% from a year ago.   So the answer to the question is a yes/no–we are certainly crawling our way out of the trough, but haven’t quite reached the lip yet.  Certain areas of our market are doing very well (homes under about $300,000), but other sectors (especially homes over the $2MM mark) are still struggling.  On balance, though, this is a good sign.  When homes at the lower end of the market sell, their previous owners tend to “move up”–do this enough times, and you actually have a recovery!  We just hope the positive news continues, and that Congress extends the first-time homebuyer tax credit, thus priming the pump for a recovery throughout all price-points.