In a study that tracks changes in price per square foot in 25 U.S. metro areas, Radar Logic today reported that nearly all saw prices drop between July 2007 and July 2008.

The lone exception — Milwaukee, Wis. — posted growth in its price per square foot of 2.9 percent, to $121.55.

According to the RPX Monthly Housing Market Report, the largest price declines continue to be concentrated in California and states in the Southwest, where heavily discounted foreclosure-related sales are pushing down prices.

Las Vegas continued to see the largest drop in price per square foot from a year ago, falling 33.4 percent to $115.74, according to the report, which is based on values of a daily price-per-square-foot index during a 28-day period in July.

Los Angeles posted the second-largest decrease in July, down 28.1 percent to $280.29, followed by Phoenix, Ariz., down 28 percent to $112.

The markets with the smallest decreases in price per square foot were Chicago, down 1.2 percent to $179.59, and Columbus, Ohio, off 1.5 percent to $97.91.


What’s your opinion? Leave your comments below or send a
letter to the editor.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Leaders from across the industry answered our call to come to Inman Connect and share essential advice for leveling up your 2021.SEE THE SPEAKERS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription