How Far Back Has Your City Fallen in Price?

[Jeff S.]

An interesting analysis showing by city, the last year you could purchase a home at its current median price.

http://www.realestateconsulting.com/content/USBMI-201108

According to these charts, the last time Los Angeles housing was at its current median price was 2003. For Chicago 2002, Houston 2006, and Las Vegas was 1998. Interesting that Atlanta has fallen the most, to 1997 -- a 14 year loss. What’s conspicuously missing is Detroit.

Where does your city stand?

If you don’t subscribe to John Burns free research, you might consider it.

Jeff