The Denver Post reports from Colorado. "Colorado regained the nation's top foreclosure rate in December. 'That's a matter of concern, particularly since we haven't had the appreciation in home prices that Nevada has had or the amount of speculative buying,' said Tucker Hart Adams, a regional economist with U.S. Bank. 'I don't think we're anywhere close to the end of it.'"

"The number of homes sold at foreclosure auctions has been rising each week, said Jeannie Reeser, Adams County's public trustee. 'We had over 200 last week, and we're going to have a whole bunch again this week,' she said."

"Shawna Stieber, a broker who specializes in Adams and Weld counties, blames lenders for the high foreclosure rates there. 'I constantly have people come to me and say the max they can afford is $1,000 a month,' she said. 'Then they go to the lender who says, 'If you change your exemption and do this and do that, you can afford a $180,000 house.' There's a big difference between a $100,000 house and a $180,000 house.'"

"Foreclosures and overbuilding the market are taking their toll on existing- home prices, said Dave Babb, a broker who specializes in the north metro area. 'They're impacted by foreclosures, but they're also impacted by new housing,' he said. 'Builders are discounting spec homes tremendously.'"

"Northern Colorado's economy has rested on a foundation of strong construction spending since the early 1990s. That foundation could be sinking."

"Forecasts from Colorado State University call for 6,100 new jobs in the region this year, which would represent a 2.8 percent gain from November's payroll count of 216,800 jobs. But that may not be enough to shore up an overbuilt real-estate market, observers told an audience."

"Construction activity in northern Colorado suffered a significant downturn in the fourth quarter, pointing to tougher times ahead for the region, said regional economist John Green. 'If construction drives our economy, we need to be nervous,' Green told (the) audience."

"'The northern Colorado real- estate market has generally too much supply in nearly every category,' said Rocky Scott, president of a 3,000-acre commercial and residential project in Loveland."

"Housing is where overbuilding carries some of the most severe consequences for residents of the region. Northern Colorado builders were pulling 500 permits per month in the two counties in the early months of last year, Green said. As the year came to a close, they were pulling around 200 a month."

"In several recent months, Greeley and surrounding Weld County have led the nation with the highest foreclosure rate out of more than 200 metro areas."

The Free New Mexican. "House sales were slower in Santa Fe County during 2006 than during any of the previous eight years, but the market slowed even more in Eldorado during the past year."

"Price pressure is squeezing younger buyers out of the Eldorado market, associate broker Fred Raznick said. In the southeast county area, increases in median home-sale prices has outpaced increases countywide, nearly doubling since 1998. Countywide median prices increased by three-fourths over the 1998 median price."

"Resellers have sometimes had to adjust their expectations. Some sellers have 'spun their wheels' expecting their older home to be worth as much as a home built on a similar lot now valued at a higher price, Raznick said."

"'It's not what I would call a seller's market right now. It's what I would call a balanced market and, at least in the short term, it seems to be leaning toward the buyer's side,' Raznick said."

"The general housing market slowdown across the country apparently reached Santa Fe late last year, the latest home-sales figures show. Sales in both the city and county of Santa Fe in the fourth quarter of 2006 were well behind figures for the same period a year ago, continuing a trend that became apparent in the third quarter."

"The softer real-estate market favors buyers for at least the time being, and likely means some real-estate agents are having a harder time making a living, one longtime real-estate agency owner said Monday."

"'In looking at the entire year (of 2006), there's no question there was a slowing down but not a going down,' said Wally Sargent of one of Santa Fe's largest real-estate agencies. 'There are more sellers than buyers, and properties are selling when sellers get realistic and don't hold out for top dollar."

"The Santa Fe Association of Realtors reported a total of 221 homes in the city sold during the fourth quarter of 2006, a 25 percent drop from the same period of 2005. Santa Fe County totals for the fourth quarter of 2006 show 177 homes sold (a 27 percent decline from a year earlier), and the median sales price dropped by 4 percent to $442,000."

"David Barker of Barker Realty agreed that there was some softness in real-estate sales in the third and fourth quarters of 2006, a slowdown that has led to an increase in inventory and the number of days it takes to sell a house in Santa Fe. 'More properties are on the market, and fewer are selling,' Barker said, a situation that favors buyers at least temporarily."

The Arizona Republic. "The West Valley's housing market followed a Valley-wide slowing trend in 2006, with homeowners worrying about slipping values and sellers struggling to stay afloat in a sea of listings."

"The sluggish market was good news for buyers, as sellers reduced prices and agreed to pay closing costs in a bid to lure customers. 'Buyers had a lot of choices in 2006 and remain in the driver's seat,' said Meredith Andrews, a real estate agent in Surprise. 'They can bargain a little bit.'"

"As for the West Valley's resale housing market, Andrews anticipates a correction in the market by midyear. 'It will take a little more time for listings to start moving again,' Andrews said. 'The trick will be to price right.'"