Median housing value fell 5.8 percent in 2009, to $185,200 from $196,700 in 2008, the U.S. Census Bureau reported, according to data obtained from the American Community Survey (ACS). Of 366 metro areas, Merced, Calif., experienced the biggest drop (34 percent), while Hattiesburg, Miss., saw the biggest gain (19.7 percent). Among the 50 largest metro areas, half of the 10 with the highest median property values were in California: San Jose-Sunnyvale-Santa Clara ($638,300), San Francisco-Oakland-Fremont ($591,600), Los Angeles-Long Beach-Santa Ana ($463,600), San Diego-Carlsbad-San Marcos ($417,700) and Sacramento-Arden-Arcade-Roseville ($298,000).The survey, which launched nationwide in January 2005 and is based on a sample of about 2.9 million housing units annually, provid...
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