California almost steals the list of top 10 worst markets
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U.S. home prices marked nine straight months of depreciation, according to just-released October statistics from First American CoreLogic, for a 10.4% decline from October 2007.
But the headline for Californians: The state is home to nine of the 10 of the worst performing markets.
| Statistical area | State | % Change |
| Salinas | CA | -29.06% |
| Merced | CA | -28.97% |
| Stockton | CA | -28.86% |
| Riverside-San Bernardino-Ontario | CA | -28.79% |
| Vallejo-Fairfield | CA | -28.65% |
| Oakland-Fremont-Hayward | CA | -28.55% |
| Modesto | CA | -28.41% |
| Bakersfield | CA | -28.01% |
| Miami-Miami Beach-Kendall | FL | -27.34% |
| Sacramento-Arden-Arcade-Roseville | CA | -26.95% |
No surprise here for the Golden State. Note that these statistics don’t match up with those reported by MDA DataQuick, for example, because this outfit looks at repeat sales transactions. Also note the lag time here. They’re looking at October still and we already have the November figures from MDA DataQuick. Remarkably, some statistical areas actually saw gains for the same period. The top 10:
| Statistical Area | State | % Change |
| Binghamton | NY | 8.93% |
| Sheboygan | WI | 8.91% |
| Florence-Muscle Shoals | AL | 7.63% |
| Victoria | TX | 7.25% |
| Sherman-Denison | TX | 7.06% |
| Plattsburgh | NY | 6.94% |
| Rocky Mount | NC | 6.80% |
| College Station-Bryan | TX | 6.71% |
| Charleston | WV | 6.38% |
| Shawnee | OK | 6.31% |
California was the decline leader, down 28.3% annually; Nevada dropped 25.4%, Arizona 20.1% and Florida 17.8%. The only states showing what the number crunchers considered ‘meaningful price increases’ were West Virginia, up 5.9%; South Dakota, 2.9%; and Texas, 2.7%.
Makes me wonder if prices dropped first in some areas and others will follow.
-- Lauren Beale
Thoughts? Comments?
