Markets with largest percentage-based price declines in Q4 2011

NAR: 29 metros with double-digit percentage declines on a year-to-year basis

The Boise City-Nampa, Idaho, metro area led the nation with a 20.2 percent drop in its single-family existing-home median home price in fourth-quarter 2011 compared to the same quarter in 2010, the National Association of Realtors reported this week.

Metros with double-digit percentage-based price declines (Q4 2011 vs. Q4 2010)


Rank U.S. metro % decline
1 Boise City-Nampa, Idaho -20.18%
2 Binghamton, N.Y. -19.44%
3 Allentown-Bethlehem-Easton, Pa.-N.J. -17.78%
4 Atlanta-Sandy Springs-Marietta, Ga. -17.03%
5 Springfield, Mo. -15.63%
6 Mobile, Ala. -15.08%
7 Edison, N.J. -14.92%
8 Rockford, Ill. -14.16%
9 Milwaukee-Waukesha-West Allis, Wis. -14.09%
10 Trenton-Ewing, N.J. -13.84%
11 Dover, Del. -13.30%
12 Akron, Ohio -13.20%
13 Norwich-New London, Conn. -12.22%
14 Pittsfield, Mass. -12.07%
15 Reno-Sparks, Nev. -12.05%
16 Beaumont-Port Arthur, Texas -11.82%
17 Gainesville, Fla. -11.58%
18 Deltona-Daytona Beach-Ormond Beach, Fla. -11.52%
19 Bridgeport-Stamford-Norwalk, Conn. -11.50%
20 Virginia Beach-Norfolk-Newport News, Va.-N.C. -11.46%
21 Chicago-Naperville-Joliet, Ill. -11.19%
22 Tallahassee, Fla. -11.13%
23 Gulfport-Biloxi, Miss. -11.08%
24 Tucson, Ariz. -10.59%
25 New Orleans-Metairie-Kenner, La. -10.51%
26 Providence-New Bedford-Fall River, R.I.-Mass. -10.26%
27 San Francisco-Oakland-Fremont, Calif. -10.23%
28 Phoenix-Mesa-Scottsdale, Ariz. -10.20%
29 Cleveland-Elyria-Mentor, Ohio -10.11%

Source: National Association of Realtors.

And 29 of 149 metros tracked in the quarterly price report experienced a double-digit percentage decline year over year in fourth-quarter 2011.

Three of 10 metros with the largest year-over-year price decline in the fourth quarter are in New Jersey, and one is in New York.

Metros with double-digit percentage-based price declines (Q4 2011 vs. Q3 2011)

Article continues below
Rank U.S. metro % decline
1 Bridgeport-Stamford-Norwalk, Conn. -20.64%
2 Trenton-Ewing, N.J. -16.72%
3 NY: Newark-Union, N.J.-Pa. -16.15%
4 South Bend-Mishawaka, Ind. -15.51%
5 Saint Louis, Mo.-Ill. -14.65%
6 Chicago-Naperville-Joliet, Ill. -12.47%
7 Peoria, Ill. -12.22%
8 Allentown-Bethlehem-Easton, Pa.-N.J. -11.71%
9 Champaign-Urbana, Ill. -11.68%
10 Boston-Cambridge-Quincy, Mass.-N.H. -11.61%
11 Cumberland, Md.-W.Va. -11.46%
12 Springfield, Mass. -11.14%
13 Atlanta-Sandy Springs-Marietta, Ga. -11.09%
14 New York-Wayne-White Plains, N.Y.-N.J. -10.84%
15 Birmingham-Hoover, Ala. -10.59%
16 Rockford, Ill. -10.53%
17 Pittsfield, Mass. -10.05%
18 Columbus, Ohio -10.04%

Source: National Association of Realtors.

Bridgeport-Stamford-Norwalk, Conn., had the largest quarterly price decline, NAR reported, falling 20.6 percent from third-quarter 2011 to fourth-quarter 2011.

Illinois and New Jersey accounted for Seven of 10 metros with the highest quarterly percent-based price drops from third-quarter 2011 to fourth-quarter 2011, and 18 markets experienced double-digit percentage declines on a quarter-to-quarter basis.

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