So, what is really happening????

The Denver Post is reporting that things are looking better in the residential market:
"Home prices in metro Denver rose in April from March, bucking a national trend of declining home values, according to a report Tuesday from the S&P/Case-Shiller Home Price Indices.
April's 0.8 percent monthly gain in metro Denver compares favorably with a 1.4 percent decline the index reported across 20 large metro areas that included Denver.
And it represents the first month- over-month gain in Denver captured in the index since August, about the same time the subprime-mortgage mess tanked credit markets."

But on a different floor of the same News building, the Rocky Mountain News is reporting that things are continuing to get worse:
"Sales of new homes tumbled for the sixth time in seven months in May while median prices kept plunging, underscoring the depth of the nation's housing woes.
The Commerce Department reported Wednesday that new homes were sold at a seasonally adjusted annual rate of 512,000 units in May, down 2.5 percent from the April level. The median price of a new home sold last month fell to $231,000, down 5.7 percent from a year ago.
The report on new home activity in May followed reports Tuesday that showed record home price drops in April, indicating the nation's housing slump is not only deepening but also widening to include previously untouched parts of the country."