Western cities bear brunt of falling prices

All 25 metro areas tracked in a June home-price report reported a lower price per square foot than a year ago, real estate data and analytics company Radar Logic reported today, up from 23 areas in May.

The market reporting the greatest decline in its price per square foot was Las Vegas, Nev., which saw a 30.8 percent drop to $121.17 between June 2007 and June 2008, according to the RPX Monthly Housing Market Report, which is based on values of a daily price-per-square-foot index during a 28-day period in June.

Sacramento, Calif., posted the second-largest drop in June, down 27.8 percent to $155.71, followed by Phoenix, Ariz., down 26.9 percent to $115.28.

The markets with the smallest decreases in price per square foot were Charlotte, N.C., down 0.2 percent to $100.62, and Columbus, Ohio, off 0.7 percent to $100.26.

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