Industry NewsMarkets & Economy

More markets see price declines

Report shows prices down in nearly 3 of 4 markets

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Home-price declines have accelerated in the last few months as more markets see price declines, First American CoreLogic reports.On a national basis, home prices in December were down 11.1 percent from a year ago and 19.3 percent from their July 2006 peak, bringing them back to May 2004 levels, the company said.States seeing the most severe year-over-year price declines were California (-26.9 percent), Nevada (-26.5 percent), Arizona (-21.1 percent), Florida (-19.5 percent) and Rhode Island (-19 percent).Among the 958 statistical areas tracked by First American CoreLogic, more than 700 saw price declines in December, up from 394 in June and 254 a year ago. The total value residential properties was $19.1 trillion, down $2.4 trillion, at the end of the year.California was home to nine out of the 10 markets with the highest home-price depreciation. The 10 markets that saw the biggest declines were:Stockton, Calif (-29.92 percent);Salinas, Calif. (-29.83 percent);Modesto, Calif. (-29.59 p...