Housing Price Declines: Major Differences Among Cities
Today's report from Case-Shiller indicates that the U.S. residential housing prices continued to slip through year-end 2011. However, there is a wide dispersion of cumulative price declines among the 20 major cities in the data:
- Home prices in Las Vegas and Phoenix are off a massive 61.6% and 55.7%, respectively, from their peaks in 2006/2007.
- Prices in Dallas and Denver are off only 9.0% and 10.7%, respectively, from their peaks.
Click here for a fascinating chart from CalculatedRisk.