As noted on the Lansner on Real Estate blog, the latest S&P/Case-Shiller index shows price declines of 8.6% for the 20-city composite during the annual period ending November 2007. The four steepest declines included those areas which participated in the run-up -- such as Miami and San Diego -- as well as the troubled economic area of Detroit. Although prices in the combined Los Angeles/Orange County area fell by just under 12%, they held up much better in the San Francisco area, falling by 8.6%. At the same time, prices in Portland and Seattle actually rose by 1.3% to 1.8%, respectively.
| Region | Past year | From peak |
|---|---|---|
| Miami | -15.1% | -15.3% |
| San Diego | -13.4% | -16.3% |
| Las Vegas | -13.2% | -14.0% |
| Detroit | -13.0% | -17.2% |
| Phoenix | -12.9% | -14.5% |
| Tampa | -12.6% | -14.5% |
| LA/OC | -11.9% | -12.2% |
| San Francisco | -8.6% | -10.5% |
| Washington | -7.8% | -11.0% |
| Minneapolis | -6.6% | -7.3% |
| Cleveland | -5.8% | -8.3% |
| New York | -4.8% | -5.5% |
| Chicago | -3.9% | -4.1% |
| Denver | -3.1% | -4.9% |
| Boston | -3.0% | -8.2% |
| Atlanta | -2.0% | -3.7% |
| Dallas | -1.2% | -3.2% |
| Portland | +1.3% | -1.5% |
| Seattle | +1.8% | -2.7% |
| Charlotte | +2.9% | -2.4% |
| 20-city composite | -7.7% | -8.6% |
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