Median Home Prices down in most metros, up in some (foreclosures, condo)

[18Montclair]

Just hold on guys...hopefully this freefall will end soon.

12 Month Change by Top 30 CBSAs (Core Based Statistical Areas)
As of September 2007
Riverside-San Bernardino-Ontario, CA -13.59%
Cape Coral-Fort Myers, FL -11.49%
Las Vegas-Paradise, NV -9.80%
Phoenix-Mesa-Scottsdale, AZ -8.49%
Miami-Fort Lauderdale-Miami Beach, FL -8.37%
Los Angeles-Long Beach-Santa Ana, CA -8.14%
Orlando-Kissimmee, FL -7.66%
Tampa-St. Petersburg-Clearwater, FL -7.65%
Cleveland-Elyria-Mentor, OH -7.39%
Washington-Arlington-Alexandria, DC-VA-MD-WV -6.65%
Boston-Quincy, MA -4.97%
New York-Northern New Jersey-Long Island, NY-NJ-PA -3.78%
Detroit-Warren-Livonia, MI -3.46%
St. Louis, MO-IL -2.10%
Miami-Miami Beach-Kendall, FL -1.59%
Minneapolis-St. Paul-Bloomington, MN-WI -1.55%
Atlanta-Sandy Springs-Marietta, GA -0.40%
Philadelphia, PA -0.05%

Chicago-Naperville-Joliet, IL-IN-WI +0.06%
San Francisco-Oakland-Fremont, CA +0.68%
Dallas-Fort Worth-Arlington, TX +1.27%
Houston-Sugar Land-Baytown, TX +2.46%
Portland-Vancouver-Beaverton, OR-WA +2.83%
Charlotte-Gastonia-Concord, NC-SC +3.70%
Seattle-Tacoma-Bellevue, WA +4.25%
Austin-Round Rock, TX +4.83%
San Antonio, TX +4.85%
Raleigh-Cary, NC +5.55%
Salt Lake City, UT +6.06%
Honolulu, HI +14.79%

First American LoanPerformance Releases September 2007 House Price Index (broken link)

[downtown1]

Interesting. SF does not seem to be affected much with this housing slump.

[18Montclair]

Originally Posted by downtown1

Interesting. SF does not seem to be affected much with this housing slump.

Not too bad yet. Although were it not for the slump, we'd probably be looking at an increase closer to 5-7% so it has affected us, just not as bad as other places-knock on wood.

[compelled to reply]

Originally Posted by 18Montclair

Just hold on guys...hopefully this freefall will end soon.

No, this freefall is GREAT news!

Miami-Fort Lauderdale-Miami Beach, FL -8.37% Price correction, woohoo!!!!!

[18Montclair]

Originally Posted by fort lauderdale

No, this freefall is GREAT news!

Miami-Fort Lauderdale-Miami Beach, FL -8.37% Price correction, woohoo!!!!!

I guess for a buyer...this is wonderful!

[compelled to reply]

Originally Posted by 18Montclair

I guess for a buyer...this is wonderful!

It's true that this isn't such good news for a seller but in markets like mine the costs have been so overinflated by speculation, rather than a surplus of well paying jobs.

[normie]

Miami and Miami Beach are on the list twice, with two different amounts. Different sections of Miami???

I'm a potential buyer, so I'm also excited about Florida--except that the number of foreclosures there make me nervous. I want to be sure to avoid any neighborhoods that make get lots of foreclosures by this time next year. It's a difficult dance, trying to figure out if you're getting a deal or a future nightmare.

[compelled to reply]

Originally Posted by normie

Miami and Miami Beach are on the list twice, with two different amounts. Different sections of Miami???

I'm a potential buyer, so I'm also excited about Florida--except that the number of foreclosures there make me nervous. I want to be sure to avoid any neighborhoods that make get lots of foreclosures by this time next year. It's a difficult dance, trying to figure out if you're getting a deal or a future nightmare.

I think they are in the same list twice because the inclusion of Fort Lauderdale (For some reason they don't want to include it individually) brought up its overall rating significantly. We easily have the worst market in the country right now. Foreclosures up 600 percent, slight exodus, crazy condo speculation and now oversupply, prices out of line with local incomes, its crazy.

Overall, you would have to be nuts to buy here right now.