Every homeowner knows first hand the carnage in home values during the Great Recession. Here are the 10 cities where residential properties have fared the worst since the housing market's peak in mid 2006. These metro markets continue to suffer from foreclosures and high unemployment.
Bright spots? In some of the cities in California, the median home price rose over the past year, driven up largely by first-time buyers seeking the now-expired home buyer’s tax credit and investors. But those gains may not last as the housing market bounces along the bottom.
- Percentage of change in home price since the peak reflects the period from July 1, 2006 to June 30, 2010
- One-year percentage of change in home price reflects the period from July 1, 2009 to June 30, 2010
- One-year forecast change in home price ends June 30, 2011
- Unemployment rate is as of September 2010
- Foreclosure rate is as of the third quarter of 2010
Sources: Fiserv Case-Shiller, Federal Housing Finance Agency, National Association of Realtors, Moody’s Economy.com, Bureau of Labor Statistics, RealtyTracBy Pat Esswein
Produced by Amy Pollak
10 Cities Where Home Values Have Plummeted Most