The Housing Chronicles Blog: Home prices decline in most places, but rise in others

Tuesday, January 29, 2008

Home prices decline in most places, but rise in others

As noted on the Lansner on Real Estate blog, the latest S&P/Case-Shiller index shows price declines of 8.6% for the 20-city composite during the annual period ending November 2007. The four steepest declines included those areas which participated in the run-up -- such as Miami and San Diego -- as well as the troubled economic area of Detroit. Although prices in the combined Los Angeles/Orange County area fell by just under 12%, they held up much better in the San Francisco area, falling by 8.6%. At the same time, prices in Portland and Seattle actually rose by 1.3% to 1.8%, respectively.

Region Past year From peak
Miami -15.1% -15.3%
San Diego -13.4% -16.3%
Las Vegas -13.2% -14.0%
Detroit -13.0% -17.2%
Phoenix -12.9% -14.5%
Tampa -12.6% -14.5%
LA/OC -11.9% -12.2%
San Francisco -8.6% -10.5%
Washington -7.8% -11.0%
Minneapolis -6.6% -7.3%
Cleveland -5.8% -8.3%
New York -4.8% -5.5%
Chicago -3.9% -4.1%
Denver -3.1% -4.9%
Boston -3.0% -8.2%
Atlanta -2.0% -3.7%
Dallas -1.2% -3.2%
Portland +1.3% -1.5%
Seattle +1.8% -2.7%
Charlotte +2.9% -2.4%
20-city composite -7.7% -8.6%

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