AgentIndustry News

Home prices sink in 20 metro areas

Index: Double-digit-percentage declines reported in nine metros

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The price per square foot of homes fell in 20 of 25 U.S. metro areas tracked in December compared to the same month in the previous year, according to a monthly index report by real estate research and analytics company Radar Logic Inc. Sacramento, Calif., had the largest index decline during a 28-day period in December 2007 compared to the same period in 2006, with the price per square foot falling 23.7 percent, according to the RPX index report by Radar Logic. Year-over-year double-digit-percentage declines in the price per square foot were also reported in Las Vegas, down 21 percent; St. Louis, down 20.3 percent; San Diego, down 19 percent; Los Angeles, down 14.7 percent; Miami, down 14.4 percent; Tampa, down 13.6 percent; Atlanta, down 11.3 percent; and Phoenix, down 10.3 percent. The largest year-over-year gain was in Milwaukee, up 4.9 percent; Washington, D.C., up 2.4 percent; Charlotte, up 2.1 percent; New York, up 1.4 percent; and Seattle, up 0.9 percent. A separate ...