Industry News

Sacramento tops list for home-price declines

Radar Logic index based on price-per-square-foot data

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Home prices fell in 20 of 25 U.S. metro areas in November compared to the same period in 2006, according to a housing market report. The RPX Monthly Housing Market Report, released this month by research and analytics firm Radar Logic, revealed year-over-year price drops ranging from -18.6 percent in Sacramento, Calif., to -1.4 percent in Columbus, Ohio, and price gains ranging from 5.6 percent in Milwaukee to 1.1 percent Charlotte. The report is based on a 28-day aggregation of daily index prices that reflect price-per-square-foot data. Radar Logic calculates price-per-square-foot data by capturing real estate transaction from public sources. Las Vegas ranked second on the list for price decline -- the price per square foot of a home in Las Vegas dropped 17.2 percent during a 28-day period ended Nov. 30, 2007, compared to that period in 2006. San Diego ranked third with a 17.1 percent decline, Tampa was fourth with an 11.7 percent decline and Los Angeles was fifth with a 10.7 percent ...