Here are the 10 top cities for decreasing property values (as compared to a year ago):
Sacramento, CA (-18.5%)
Las Vegas, Nev. (-17.2%)
San Diego, Calif. (-17.1%)
Tampa, Fla. (-11.7%)
Los Angeles, Calif. (-10.7%)
Miami, Fla. (-10.6%)
Phoenix, Ariz. (-9.5%)
Jacksonville, Fla. (-8.7%)
Detroit, Mich. (-7.7%)
Atlanta, GA (-7.1%)
Click here for the full slideshow from Forbes…
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As of today, February 16, more are more signs are leading towards a further declining market:
U.S import prices went up by 1.7% which was driven by increased prices for oil
Export prices increased 1.2% which was the largest jump since 1989.
The Reuters/University of Michigan index of consumer sentiment dropped to 69.6 which was the lowest it [...]
It was reported that over 17,000 jobs were lost last month. Most of the jobs were lost in construction, the mortgage industry and in real estate (no surprise there!). This doesn’t even include all of the real estate agents who are still technically employed with a broker but are not seeing any income [...]