I consider the past ten or so years an anomaly, but across the country, I would say RE prices do not outperform inflation, especially when you consider costs to maintain the property and the massive capital expenses that will need to be paid every 30 or so years.

As I'm sure you know, Boulder is a bit of an anomaly as far as RE markets go, due to the high desirability we have which makes us one of the most stable markets in the country.

@Scott Dixon, are you using any sort of cohort rule to eliminate anomalies in the data or are you just doing it as a one off notation? 

Don't know your area, but obviously there is a reason it settled....maybe some pocket of buried trash, organics, etc. or some ground structure anomaly.  

It would be an anomaly if the property didn't appreciate steadily over the next 3 years, in my opinion.

They can be a lot of work, but this situation is also kind of a anomaly 

The last 10 years have been the anomaly,  not todays rates. 

If such an anomaly exist, they won't all miss it.

You have to put in the time to research comparable homes and crunch the numbers.Be careful. 2020/2021 were anomalies in the world of short-term rentals and not indicative of future performance.

Comparing them to prior year figures to see if there is an anomaly.  2.