Monday, December 22, 2008

Real Estate Markets - The Worst 10 for 2009

From CNNMoney.com - "10 worst real-estate markets for 2009":

  1. Los Angeles, CA (-24.9% change in median home price predicted for 2009)
  2. Stockton, CA (-24.7% change in median home price predicted for 2009)
  3. Riverside, CA (-23.3% change in median home price predicted for 2009)
  4. Miami-Miami Beach, FL (-22.8% change in median home price predicted for 2009)
  5. Sacramento, CA (-22.2% change in median home price predicted for 2009)
  6. Santa Ana-Anaheim, CA (-22.0% change in median home price predicted for 2009)
  7. Fresno, CA (-21.6% change in median home price predicted for 2009)
  8. San Diego, CA (-21.1% change in median home price predicted for 2009)
  9. Bakersfield, CA (-20.9% change in median home price predicted for 2009)
  10. Washington, D.C (-19.9% change in median home price predicted for 2009)

Roughly another 20-25% in median home price declines predicted for these markets in 2009. Do you agree with these numbers in consideration that some of these markets have already dropped 40-50% from their peak? Is doomsday really upon us?

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