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Wednesday, February 25, 2009

America's Best and Worst Housing Markets

From Realtor Magazine Online, Daily Real Estate News February 25, 2009

As the housing downturn wears on, some cities are stabilizing and some aren’t.

In Las Vegas, the weakest market in the country, prices continue to drop.

"I don't know what those guys were drinking when they thought all this building made sense. If it does work out soon, then there's some force out there in the universe that I'm not aware of," Steve Cesinger, chief financial officer at Dewberry Capital, an Atlanta-based real estate investment firm.

Forbes magazine analyzed monthly declines as well as year-over-year declines in home prices. It also looked at how many months of equity homeowners have lost. With these figures in mind, it determined the 10 best and the 10 worst U.S. housing markets. Here they are::

10 Best

New York City
Washington, DC
Charlotte, N.C.
Portland, Ore
San Diego
Denver
Boston
Dallas
Los Angeles
Seattle

10 Worst

Las Vegas
Phoenix
Detroit
Minneapolis
San Francisco
Chicago
Cleveland
Atlanta
Tampa
Miami

Source: Forbes: Matt Woolsey (02/24/2005)
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