Despite headlines touting soaring home prices, some U.S. metro areas have seen price declines in the past year, Kiplinger reported, citing figures from real estate data and analytics firm Clear Capital.
Of the 12 metro areas with populations above 250,000 where prices fell the most in the year through March 30, 2013, five were in the South, four were in the Northeast, and three were in the Midwest.
They included: Montgomery, Ala. (-14.5 percent); South Bend, Ind. (-11.7 percent); Winston-Salem, N.C. (-10.9 percent); Trenton-Ewing, N.J. (-8.1 percent); Manchester-Nashua, N.H. (-8 percent); Green Bay, Wis. (-7.9 percent); Scranton/Wilkes-Barre, Pa. (-5.8 percent); Atlantic City, N.J. (-5.2 percent); St. Louis (-4.8 percent); Charlotte, N.C. (-4.4 percent); Greensboro-High Point, N.C. (-4.3 percent); and Baton Rouge, La. (-4.1 percent).
Many of these metros have an oversupply of homes on the market, high unemployment rates, more foreclosures than short sales among their distressed properties, or haven’t attracted out-of-town real estate investors like Phoenix, Atlanta and Las Vegas have.
Source: Kiplinger via Yahoo Homes