“The long-predicted double-dip in housing has begun, with cities across the country falling to their lowest point in many years …”
“[E]ight markets – Atlanta, Charlotte, Detroit, Las Vegas, Miami, Portland (OR), Seattle and Tampa – hit their lowest levels since home prices peaked in 2006 and 2007, meaning that average home prices in those markets have fallen even further than the lows set in the spring of 2009.”
Standard and Poor’s via Calculated Risk
Prices in Atlanta (-7.9), Chicago (-7.6%), Detroit (-7.1%), Portland OR (-7.0%) and Phoenix (-6.4%) did the worst November 2009-November 2010.
Across the 20 markets, prices in November were at late 2003 levels.