Median Real Estate List Prices - 10 Metro Areas with the Greatest Year-over-Year List Price Declines

Median Real Estate List Prices – Largest year over year Declines – In contrast to Florida, median list prices continue to be down on a year-over-year basis initially hard-hit areas, including Las Vegas and many parts of California.   However, markets that never experienced a rapid run-up in housing prices are now registering among the highest rates of list price declines.  This pattern suggests a shift in both the nature and location of the nation’s housing problems—away from the sand states and into older, more industrialized areas that are experiencing the brunt of the economic downturn.  The ten markets with the largest year-over-year list price declines in March are shown below.

Median Real Estate List Prices

10 Metro Areas with the Greatest Year-over-Year List Price Declines

March 2012 vs March 2011		March 2011 vs March 2010
Chicago, IL	-9.48%	Santa Barbara-Santa Maria-Lompoc, CA	-29.12%
Knoxville, TN	-5.41%	Detroit, MI	-20.38%
Orange County, CA	-4.42%	Atlanta, GA	-15.53%
Sacramento, CA	-4.35%	Phoenix-Mesa, AZ	-14.20%
Philadelphia, PA-NJ(PA)	-3.77%	Minneapolis-St. Paul, MN-WI(MN)	-13.88%
Jersey City, NJ	-3.26%	Seattle-Bellevue-Everett, WA	-13.06%
Los Angeles-Long Beach, CA	-2.95%	Tampa-St.Petersburg-Clearwater, FL	-12.45%
York, PA	-2.88%	Chicago, IL	-10.68%
Wilmington-Newark, DE-MD(DE)	-2.88%	Las Vegas, NV-AZ(NV)	-9.64%
Reading, PA	-2.78%	San Francisco, CA	-9.51%

Information obtained from the National Association of REALTORS.


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