Which cities are seeing significant decrease in home prices? (big house, incomes)

[normie]

I know the prices are falling in Las Vegas and some of the Los Angeles suburbs (not falling much yet at the beach, rats!). Where else?

[DC at the Ridge]

Prices actually went up 7.46% the first quarter of 2007 in my county.

[tahiti]

Phoenix, Sacramento, Orlando, Palm Beach County FL come to mind, basically places with skyrocketing housing prices over the past 3-4 years coupled with median incomes that can't sustain prices at those levels.

[18Montclair]

11-county San Francisco Bay Area, Latest Data from The California Association of Realtors
Aug 07 $832,760 Median Price, Single-Family Home
Aug 06 $757,480 Median Price, Single-Family Home
+9.9%

[normie]

Where do you live D.C.?

[floridasandy]

florida has seen drastic drops in property value, as has las vegas. basically any area with significant growth in the last 3-4 years is in trouble now.

[rcsteiner]

Originally Posted by 18Montclair

11-county San Francisco Bay Area, Latest Data from The California Association of Realtors
Aug 07 $832,760 Median Price, Single-Family Home
Aug 06 $757,480 Median Price, Single-Family Home
+9.9%

Expensive. :-)

For Atlanta:

Trend 10/08/2007 1 month 3 month 6 month 12 month
Median Price $215,000 0.0% -1.8% 0.0% +2.4%
Inventory 118,626 -0.3% +1.4% +12.2% +24.6%

Source: HousingTracker.net

[18Montclair]

Originally Posted by rcsteiner

Expensive. :-)

For Atlanta:

Trend 10/08/2007 1 month 3 month 6 month 12 month
Median Price $215,000 0.0% -1.8% 0.0% +2.4%
Inventory 118,626 -0.3% +1.4% +12.2% +24.6%

Source: HousingTracker.net

215K?


Im jealous.

[rcsteiner]

Originally Posted by 18Montclair

215K?


Im jealous.

Housing is inexpensive here. We paid $229k for this (http://www.visi.com/~rsteiner/house/winter.html - broken link) in July 2005, just three miles outside the I-285 perimeter.

[18Montclair]

Originally Posted by rcsteiner

Housing is inexpensive here. We paid $229k for this (http://www.visi.com/~rsteiner/house/winter.html - broken link) in July 2005, just three miles outside the I-285 perimeter.

wow...that's gorgeous. Something like that around here would cost about 10 times that amouunt-at least. Its not hard to understand the logic of equity-rich Californians wanting a big house in less expensive locales.