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Unlike previous housing slumps, the one we’re in now has spread from coast to coast. But that doesn’t mean that every market is suffering equally. The worst markets — the ones in Florida, California, Arizona, and Nevada — seem to get all the attention. But in places such as Charlotte, Dallas, Denver, and Portland sales have slowed, but prices haven’t dropped much.
The Bespoke Investment Group published a chart on its Web site using data from the Case-Shiller Median Home Price Index. It shows how much median home prices have fallen from their peaks in each of the 20 cities the index tracks.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.