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House Prices in America: 3rd Quarter 2009 Update December 2009 A special report by IHS Global Insight's U.S. Regional Group PREPARED BY IHS Global Insight and PNC Financial Services Group
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House Prices in America: 3rd Quarter 2009 Update
December 2009
A special report by IHS Global
Insight's U.S. Regional Group
PREPARED BYIHS Global Insight and
PNC Financial Services Group
House Prices in America: 3rd Quarter 2009 Update
IHS Global Insight / PNC Financial Services Group Page 1 of 3 December 2009
Summary • Two years of relentless house price depreciation ended in the third quarter of 2009. Prices edged up by
0.2% from the previous quarter, led by a 2.1% increase in California. Prices still declined from the second quarter in approximately half of the metropolitan areas studied (161 out of 330), but this is down from over 300 in the fourth quarter of 2008.
• For the first time, we are showing no metros to be extremely overvalued, a sharp contrast to 2005 when 52
metro areas were judged to be extremely overvalued. For the country as a whole, the housing market is now slightly undervalued. When all of the 330 metro areas are weighted by market value, the nation is 8.6% undervalued. When weighted by housing units, the nation is 10.1% undervalued.
Recent Evidence on House Prices House prices increased during the third quarter of 2009 by 0.9% in year-over-year terms, according to the Federal Housing Finance Agency (FHFA). This increase is the first since the second quarter of 2007, when the market began its downward path. From its peak in the spring of 2007, the nationwide average price is now down 10.7%. The number of declining markets was 161 in the third quarter, a significant change from 317 areas in the fourth quarter of 2008. There were 169 markets that showed increases in the third quarter. The rate of decline decreased throughout the first half of 2009, as the market began to stabilize. It is not, however, at all clear that the market is on a recovery path. Economic conditions remain dire, with unemployment likely to remain stubbornly near 10% for some time, and the federal tax credit for first time buyers has played a temporary role in bolstering the market. The largest home price declines in the third quarter (q/q) were 5.6% in Bend, Oregon, and 5.0% in Las Vegas. These metros are now 33.5% and 56% below their peak prices in 2006. Overall, eight metro areas have seen prices decline by more than 50% from their peaks, led by Merced , CA (-66%), and three others in California's central valley. There are now 31 metro areas with declines greater than 40% from their peaks, 51 greater than 30%, 66 greater than 20%, and 128 metros with greater than 10% declines from their peak. Only sixteen metros have escaped net home price declines in this cycle. All but one (Pittsburgh), are in the center of the country, including six in Texas. Among the metros with increasing third quarter prices are Los Angeles, California, and Miami,
Florida, two areas hard hit by this downturn, now with gains above 4%.
House Prices in America: 3rd Quarter 2009 Update
IHS Global Insight / PNC Financial Services Group Page 2 of 3 December 2009
House Price Valuations Our approach to determining statistically normal house values considers not only house prices and interest rates, but household incomes, population densities, and any historical premiums or discounts metropolitan areas have exhibited over time. We examined these factors for 330 metro areas, which now account for 78.4% of all existing housing units in America and 86.4% of all related real estate value, to determine what house prices should be, in this statistical sense. Based on an historical examination of 155 actual metro area price corrections during the 1985-2008 period, we consider valuations in excess of +35 percent as “extremely overvalued” and present a risk of substantial price decline (10 percent, or greater) going forward. Valuations between ±14 percent are consistent with one standard deviation of the historically normal distribution, and considered “fairly valued,” accordingly. Between extremely overvalued and fairly valued are areas above the historically normal range, but not so high
as to be at risk of substantial price decline. We call these areas “overvalued.” Finally, any area below the historically normal range, below -14 percent, is considered “undervalued.” According to our latest analysis, there were no markets that met the criteria for extreme overvaluation during the third quarter, as a 4.8% decline finally moved Atlantic City, New Jersey down into the overvalued category. This compares to 52 metros during the peak of extreme overvaluation in the fourth quarter of 2005. The markets that are still overvalued remain mostly in the Pacific Northwest, though prices are declining in that region. Seattle saw prices fall by more than 2% in the quarter. Southern metros, especially in Texas, have remained generally undervalued. The most significant changes in valuation have occurred in those metros in California and Florida, with many going from extremely overvalued to under-valued in a two year span as prices have plummeted. Downward pressure on prices in these metros is clearly
House Price Appreciation: Third Quarter, 2009 (Annual Rate)
House Prices in America: 3rd Quarter 2009 Update
IHS Global Insight / PNC Financial Services Group Page 3 of 3 December 2009
magnified by the huge amount of foreclosures and other short sales, as well as the large inventory of unsold homes. Among those metros that are undervalued (105), nearly 70% saw the amount of undervaluation decline this past quarter. Several of these metros can be found in California, where the downturn took hold earlier. Oxnard saw an improvement of 4.4%, Hanford 4.1%, Yuba City, 3.8%, Oakland 3.6%, San Francisco 3.4%, and Riverside 2.8%. Another way of measuring the degree of overvaluation is to weight each of the 330 metro areas by their share of the total and then construct a composite measure. We do this in two ways. When weighting each area by its share of total housing market value, we find that the overall housing market is now undervalued by 8.6%. That compares with a peak overvaluation of 26.1% during the second quarter of 2006. When weighting each area by its share of total housing market units, we find the overall housing market to
now be undervalued 10.1%. That compares with a peak overvaluation of 17.1%, during the second quarter of 2006.
House Price Valuation: Third Quarter, 2009
!For a variety of reasons, these metrics will change slightly with periodic updates to the analysis. .
House Prices in America: 3rd Quarter 2009 Update
IHS Global Insight / PNC Financial Services Group Page 4 December 2009
Appendix A: Metropolitan Area House Valuations
Alphabetical Ranking
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Abilene, TX $69.5 -9.2 │ $76.1 -3.1 │ $80.0 -6.6 │ $80.5 -11.7 │ $81.7 -14.1 │ $82.7 -12.3Akron, OH $131.6 0.9 │ $131.5 -2.0 │ $130.0 -6.9 │ $123.6 -14.4 │ $120.6 -19.7 │ $120.7 -18.6Albany, GA $84.7 -1.3 │ $90.0 5.7 │ $92.3 3.5 │ $90.2 -4.0 │ $85.0 -12.0 │ $90.2 -5.5Albany-Schenectady-Troy, NY $180.0 9.1 │ $187.5 10.6 │ $196.7 11.5 │ $199.0 6.0 │ $194.4 2.4 │ $198.9 5.0Albuquerque, NM $164.3 4.0 │ $190.0 14.9 │ $197.0 14.9 │ $192.7 8.9 │ $184.1 2.8 │ $179.5 1.6Alexandria, LA $82.1 -9.2 │ $89.8 -2.2 │ $93.2 -7.2 │ $93.9 -12.4 │ $93.2 -19.1 │ $92.8 -20.0Allentown-Bethlehem-Easton, PA-NJ $198.1 15.5 │ $217.2 21.7 │ $220.8 17.5 │ $208.9 7.7 │ $199.8 1.0 │ $199.1 1.6Amarillo, TX $87.7 -3.7 │ $92.7 0.9 │ $95.8 -2.6 │ $95.7 -9.0 │ $96.3 -11.1 │ $98.4 -8.5Ames, IA $134.1 0.8 │ $134.2 -3.5 │ $138.0 -8.2 │ $134.6 -15.1 │ $134.3 -16.0 │ $136.4 -13.5Anchorage, AK $227.9 15.4 │ $243.3 15.9 │ $240.3 13.5 │ $240.2 4.4 │ $235.8 3.9 │ $233.1 3.5Anderson, IN $92.9 5.5 │ $87.2 -3.6 │ $87.3 -4.5 │ $87.3 -6.1 │ $87.4 -9.6 │ $83.7 -12.4Anderson, SC $96.2 0.9 │ $99.3 0.5 │ $106.0 4.5 │ $105.4 0.9 │ $103.9 -4.8 │ $105.2 -2.4Ann Arbor, MI $214.0 21.0 │ $205.4 15.1 │ $182.5 -3.1 │ $162.8 -14.2 │ $159.2 -17.7 │ $158.6 -16.9Appleton, WI $134.0 4.3 │ $136.2 2.9 │ $137.6 -1.9 │ $134.7 -6.9 │ $134.5 -8.9 │ $133.5 -9.1Asheville, NC $143.9 15.1 │ $163.3 26.4 │ $175.3 29.4 │ $173.2 23.9 │ $171.2 19.0 │ $172.9 21.8Athens-Clarke County, GA $131.6 4.2 │ $138.1 4.8 │ $141.5 0.2 │ $135.2 -9.4 │ $129.2 -15.5 │ $135.3 -10.5Atlanta-Sandy Springs-Marietta, GA $170.9 -2.4 │ $176.5 -1.7 │ $177.1 -6.2 │ $166.8 -12.2 │ $150.5 -20.5 │ $159.2 -14.5Atlantic City, NJ $253.4 55.2 │ $273.0 65.2 │ $268.2 58.4 │ $250.0 41.9 │ $239.2 36.2 │ $232.1 30.2Auburn-Opelika, AL $113.9 5.5 │ $122.6 8.4 │ $129.2 8.9 │ $125.8 2.5 │ $123.2 -1.0 │ $122.2 -0.4Augusta-Richmond County, GA-SC $102.1 -4.2 │ $112.7 4.0 │ $115.9 2.5 │ $114.6 -3.5 │ $108.8 -11.1 │ $113.5 -6.3Austin-Round Rock, TX $147.2 -12.0 │ $160.6 -7.9 │ $175.2 -3.9 │ $179.4 -5.4 │ $176.3 -8.2 │ $177.4 -6.9Bakersfield, CA $218.7 51.0 │ $236.5 59.9 │ $217.0 40.3 │ $142.4 -10.3 │ $125.6 -20.1 │ $126.0 -19.2Baltimore-Towson, MD $276.0 27.3 │ $295.2 30.7 │ $299.0 23.8 │ $278.8 10.3 │ $255.7 -1.9 │ $265.9 2.4Bangor, ME $125.6 16.5 │ $128.9 17.1 │ $132.3 13.6 │ $132.0 6.3 │ $131.5 2.0 │ $130.9 1.9Barnstable Town, MA $357.5 41.8 │ $348.7 33.2 │ $335.8 21.5 │ $316.3 9.1 │ $316.9 6.3 │ $308.7 4.3Baton Rouge, LA $108.2 -2.0 │ $122.6 -2.5 │ $130.7 -5.1 │ $128.9 -11.2 │ $128.6 -16.1 │ $128.0 -16.6Battle Creek, MI $99.7 16.4 │ $101.1 18.8 │ $94.7 6.4 │ $88.4 -6.1 │ $85.8 -12.0 │ $81.9 -15.6Bay City, MI $102.6 23.6 │ $99.9 19.6 │ $94.6 8.7 │ $85.4 -6.9 │ $82.3 -14.7 │ $83.3 -11.3Beaumont-Port Arthur, TX $70.2 -12.3 │ $76.5 -9.9 │ $83.1 -7.8 │ $83.8 -13.2 │ $84.5 -15.1 │ $85.6 -13.5Bellingham, WA $271.6 37.2 │ $299.3 41.3 │ $303.6 32.6 │ $295.7 24.5 │ $285.6 21.1 │ $280.2 20.0Bend, OR $249.3 34.8 │ $318.8 63.4 │ $313.5 59.3 │ $265.2 37.4 │ $225.3 16.7 │ $212.6 12.1Bethesda-Frederick-Gaithersburg, MD $447.1 32.0 │ $460.2 29.5 │ $448.8 17.0 │ $399.3 -1.4 │ $376.9 -11.1 │ $380.9 -10.0Billings, MT $143.0 3.4 │ $152.1 6.0 │ $161.6 3.1 │ $165.8 2.0 │ $163.0 -1.1 │ $163.4 0.0Binghamton, NY $102.4 0.3 │ $107.3 0.8 │ $116.1 3.3 │ $126.3 5.7 │ $122.7 1.3 │ $124.1 1.7Birmingham-Hoover, AL $117.0 -7.2 │ $125.2 -3.6 │ $127.0 -7.0 │ $124.7 -11.2 │ $123.9 -14.6 │ $121.1 -15.7Bismarck, ND $117.0 4.4 │ $127.2 14.3 │ $134.3 11.2 │ $136.8 5.1 │ $140.7 8.4 │ $137.0 2.1Blacksburg-Christiansburg-Radford, V $121.8 9.5 │ $129.6 9.1 │ $132.9 6.7 │ $130.6 3.5 │ $131.5 3.1 │ $129.8 1.8Bloomington, IN $114.2 1.8 │ $121.3 3.7 │ $121.6 -0.3 │ $123.1 -3.5 │ $121.4 -8.5 │ $121.0 -6.6Bloomington-Normal, IL $130.2 -1.7 │ $133.0 -2.9 │ $135.0 -5.2 │ $133.3 -12.1 │ $131.3 -15.9 │ $135.9 -11.4Boise City-Nampa, ID $162.3 9.5 │ $199.0 27.7 │ $204.5 27.5 │ $186.9 19.0 │ $169.1 10.1 │ $161.3 6.3Boston-Quincy, MA Metropolitan Divis $362.2 15.6 │ $352.6 7.0 │ $338.8 -4.4 │ $321.4 -13.7 │ $320.0 -15.6 │ $316.1 -16.3Boulder, CO $298.3 9.5 │ $304.5 7.4 │ $311.1 3.9 │ $310.9 -1.4 │ $311.3 0.1 │ $314.4 2.3
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
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House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Bowling Green, KY $107.6 -1.5 │ $110.2 -2.9 │ $111.8 -6.4 │ $111.5 -12.2 │ $111.5 -14.2 │ $111.4 -13.5Bremerton-Silverdale, WA $250.8 18.5 │ $286.8 28.1 │ $299.1 24.7 │ $279.0 10.6 │ $256.6 1.8 │ $253.6 1.2Bridgeport-Stamford-Norwalk, CT $465.5 9.3 │ $476.0 2.5 │ $471.9 -7.3 │ $446.4 -13.9 │ $422.8 -18.0 │ $419.2 -18.3Brunswick, GA $116.2 10.7 │ $129.9 18.4 │ $134.4 15.7 │ $126.2 2.7 │ $118.8 -6.8 │ $119.8 -4.9Buffalo-Niagara Falls, NY $113.2 -2.9 │ $113.4 -4.9 │ $118.2 -5.0 │ $122.7 -6.9 │ $121.8 -8.4 │ $126.0 -5.3Burlington, NC $110.0 1.2 │ $111.6 -0.7 │ $113.8 -2.2 │ $111.5 -7.8 │ $113.2 -8.8 │ $115.7 -5.6Burlington-South Burlington, VT $216.5 20.6 │ $225.0 20.1 │ $230.2 14.8 │ $221.4 5.5 │ $225.9 4.7 │ $226.6 5.4Cambridge-Newton-Framingham, MA $398.2 14.4 │ $382.3 4.2 │ $372.2 -5.8 │ $357.7 -14.2 │ $357.2 -16.2 │ $355.0 -17.4Camden, NJ Metropolitan Division $231.1 20.7 │ $243.4 22.8 │ $245.8 19.3 │ $233.8 7.8 │ $222.1 1.1 │ $221.1 1.5Canton-Massillon, OH $117.5 9.0 │ $117.6 8.0 │ $114.9 1.2 │ $110.5 -7.1 │ $108.7 -11.8 │ $108.1 -11.7Cape Coral-Fort Myers, FL $225.5 27.9 │ $241.6 25.7 │ $206.8 4.9 │ $138.1 -28.7 │ $119.8 -37.2 │ $118.7 -36.8Carson City, NV $290.3 40.6 │ $291.1 39.7 │ $262.8 21.3 │ $217.3 -3.2 │ $175.6 -21.5 │ $174.1 -22.0Casper, WY $134.0 11.0 │ $149.0 5.5 │ $164.4 3.7 │ $162.9 -8.5 │ $156.5 -11.0 │ $153.2 -12.7Cedar Rapids, IA $110.9 1.2 │ $114.6 3.4 │ $116.3 -3.5 │ $114.3 -11.2 │ $112.5 -13.4 │ $116.3 -9.2Champaign-Urbana, IL $119.3 10.0 │ $121.1 10.0 │ $122.9 3.8 │ $121.1 -4.2 │ $119.8 -7.9 │ $123.4 -3.1Charleston, WV $84.8 -6.9 │ $86.0 -10.0 │ $91.0 -11.7 │ $90.3 -19.0 │ $92.8 -21.4 │ $91.7 -21.8Charleston-North Charleston, SC $151.7 13.4 │ $170.7 21.6 │ $175.7 19.9 │ $169.1 12.8 │ $161.0 5.3 │ $162.2 7.5Charlotte-Gastonia-Concord, NC-SC $142.1 -12.1 │ $153.3 -8.7 │ $164.0 -5.2 │ $162.3 -6.4 │ $160.8 -6.6 │ $159.6 -6.1Charlottesville, VA $230.7 21.5 │ $251.5 22.3 │ $260.5 20.7 │ $245.1 10.7 │ $238.8 6.2 │ $238.8 6.3Chattanooga, TN-GA $113.0 3.1 │ $119.5 4.9 │ $123.9 3.7 │ $119.3 -2.8 │ $116.3 -7.2 │ $117.7 -4.8Cheyenne, WY $147.7 0.3 │ $155.2 -4.1 │ $159.1 -8.1 │ $159.1 -14.8 │ $154.9 -15.8 │ $153.1 -16.3Chicago-Naperville-Joliet, IL Metropo $245.9 14.4 │ $257.5 15.0 │ $256.7 6.5 │ $238.7 -5.0 │ $218.2 -13.2 │ $222.8 -10.2Chico, CA $278.6 56.6 │ $274.4 45.6 │ $253.4 28.1 │ $206.4 -0.1 │ $189.2 -7.7 │ $194.1 -4.8Cincinnati-Middletown, OH-KY-IN $136.9 -3.2 │ $140.4 -3.1 │ $140.0 -7.8 │ $134.4 -14.6 │ $131.3 -19.0 │ $131.0 -18.4Cleveland-Elyria-Mentor, OH $142.0 5.2 │ $141.9 2.4 │ $137.3 -5.0 │ $127.8 -14.1 │ $122.8 -19.1 │ $127.7 -14.8College Station-Bryan, TX $95.1 -15.6 │ $101.4 -13.9 │ $106.0 -14.5 │ $110.6 -16.4 │ $110.6 -16.6 │ $110.9 -16.1Colorado Springs, CO $193.2 8.2 │ $204.8 11.4 │ $205.6 7.8 │ $194.8 -1.7 │ $195.0 1.2 │ $194.5 2.6Columbia, MO $125.6 -0.1 │ $130.4 1.0 │ $131.4 -2.7 │ $129.5 -7.1 │ $126.9 -12.9 │ $127.0 -11.5Columbia, SC $110.1 -3.0 │ $114.2 -3.9 │ $120.1 -1.4 │ $119.5 -4.3 │ $118.5 -8.4 │ $120.3 -6.3Columbus, GA-AL $107.5 -5.3 │ $115.0 -2.5 │ $119.1 -5.9 │ $114.3 -14.8 │ $109.5 -21.6 │ $112.9 -18.3Columbus, IN $112.0 -0.8 │ $117.1 -3.0 │ $119.2 -5.4 │ $117.6 -11.9 │ $117.3 -13.6 │ $117.1 -13.2Columbus, OH $146.4 -0.3 │ $148.6 -1.3 │ $147.1 -6.7 │ $141.8 -13.3 │ $138.5 -18.1 │ $139.7 -16.8Corpus Christi, TX $89.1 -11.5 │ $94.6 -9.5 │ $100.0 -10.3 │ $98.0 -18.0 │ $99.8 -18.9 │ $102.9 -15.5Corvallis, OR $232.2 13.0 │ $267.0 25.2 │ $283.0 26.6 │ $280.3 22.5 │ $259.5 13.6 │ $266.4 18.9Dallas-Plano-Irving, TX Metropolitan D $126.1 -21.7 │ $130.7 -22.0 │ $135.0 -24.1 │ $136.9 -26.2 │ $133.9 -29.1 │ $136.7 -27.5Dalton, GA $102.0 1.1 │ $107.2 6.6 │ $107.7 3.4 │ $99.4 -2.9 │ $96.7 -3.2 │ $101.8 3.0Davenport-Moline-Rock Island, IA-IL $101.3 3.5 │ $104.8 5.8 │ $108.0 0.9 │ $106.4 -6.3 │ $105.9 -8.6 │ $107.5 -5.4Dayton, OH $119.2 2.5 │ $120.1 0.3 │ $119.1 -3.1 │ $115.8 -7.4 │ $111.6 -13.3 │ $112.9 -11.9Decatur, AL $91.8 -6.2 │ $95.4 -5.4 │ $99.2 -5.6 │ $100.4 -8.1 │ $99.5 -11.5 │ $98.8 -11.4Decatur, IL $82.0 -5.7 │ $85.1 -2.2 │ $85.3 -9.3 │ $85.2 -14.8 │ $84.9 -16.7 │ $87.9 -11.2Deltona-Daytona Beach-Ormond Beac $176.9 37.9 │ $195.0 44.8 │ $179.7 28.8 │ $138.1 -2.7 │ $118.2 -17.3 │ $121.7 -13.8Denver-Aurora, CO $224.8 7.8 │ $230.4 4.9 │ $228.6 -0.8 │ $221.7 -7.7 │ $227.5 -3.9 │ $229.3 -2.1
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House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Des Moines, IA $125.7 -1.5 │ $129.1 0.5 │ $131.4 -3.7 │ $127.9 -9.5 │ $126.1 -11.1 │ $127.7 -10.3Detroit-Livonia-Dearborn, MI Metropo $115.3 33.0 │ $110.2 33.8 │ $97.6 17.5 │ $80.5 -1.6 │ $76.3 -7.9 │ $74.4 -7.8Dover, DE $168.4 15.6 │ $187.2 23.9 │ $190.2 23.0 │ $177.3 12.2 │ $176.8 11.8 │ $168.3 8.3Dubuque, IA $114.0 7.8 │ $120.5 12.1 │ $123.1 6.7 │ $121.3 0.2 │ $121.4 3.2 │ $125.6 8.1Duluth, MN-WI $120.1 29.9 │ $122.4 27.5 │ $125.6 23.8 │ $120.7 12.9 │ $119.4 11.4 │ $120.3 13.8Durham, NC $159.3 -3.7 │ $166.9 -3.1 │ $176.7 -2.9 │ $175.9 -5.9 │ $174.7 -6.4 │ $176.3 -4.2Eau Claire, WI $123.4 19.7 │ $122.8 14.4 │ $126.0 11.2 │ $123.5 5.0 │ $123.1 1.9 │ $123.3 3.2Edison, NJ Metropolitan Division $351.2 29.5 │ $364.2 27.0 │ $350.4 15.2 │ $337.1 7.2 │ $324.8 2.6 │ $321.6 0.5El Paso, TX $86.9 -20.5 │ $102.4 -9.9 │ $110.2 -8.3 │ $109.0 -14.9 │ $107.5 -19.2 │ $106.3 -19.5Elkhart-Goshen, IN $110.6 -7.2 │ $115.6 -5.2 │ $117.0 -4.6 │ $113.8 -2.8 │ $111.4 -2.2 │ $109.9 -1.2Erie, PA $104.1 8.0 │ $106.7 7.1 │ $109.8 4.2 │ $109.8 -1.1 │ $110.2 -3.0 │ $109.7 -3.2Essex County, MA Metropolitan Divis $350.8 25.7 │ $340.3 15.1 │ $325.8 3.1 │ $307.5 -7.4 │ $306.2 -10.1 │ $302.3 -10.7Eugene-Springfield, OR $210.3 28.9 │ $239.2 38.1 │ $247.4 36.3 │ $235.3 26.5 │ $219.3 17.3 │ $218.1 17.4Evansville, IN-KY $94.7 -5.7 │ $98.5 -4.5 │ $99.0 -5.8 │ $96.5 -12.4 │ $94.8 -16.9 │ $94.4 -16.8Fairbanks, AK $183.7 6.4 │ $192.0 2.6 │ $203.1 7.1 │ $197.4 -6.0 │ $194.5 -6.5 │ $195.7 -5.4Fargo, ND-MN $128.0 6.7 │ $132.4 8.5 │ $134.7 1.9 │ $137.2 -5.8 │ $141.1 -2.6 │ $136.5 -4.3Farmington, NM $117.2 15.4 │ $131.2 21.4 │ $135.7 16.8 │ $136.4 8.3 │ $136.9 5.1 │ $133.7 4.0Fayetteville, NC $98.6 -16.9 │ $105.8 -14.4 │ $112.2 -15.8 │ $112.8 -22.2 │ $111.8 -26.8 │ $113.8 -24.4Fayetteville-Springdale-Rogers, AR-M $126.2 3.5 │ $134.5 4.7 │ $133.2 -2.0 │ $124.7 -11.9 │ $119.0 -18.7 │ $114.8 -21.5Flagstaff, AZ $235.4 35.7 │ $267.0 41.4 │ $267.9 31.1 │ $236.3 11.2 │ $209.5 -2.1 │ $207.6 -1.0Flint, MI $109.9 29.4 │ $105.9 24.5 │ $95.4 9.7 │ $80.7 -8.0 │ $76.5 -15.5 │ $74.0 -16.1Florence, SC $82.1 -2.7 │ $82.9 -6.7 │ $86.9 -4.0 │ $87.6 -5.0 │ $86.4 -10.1 │ $89.8 -6.1Fond du Lac, WI $128.7 12.9 │ $131.2 13.0 │ $136.8 11.3 │ $133.1 3.8 │ $133.0 1.9 │ $131.2 1.9Fort Collins-Loveland, CO $219.4 10.1 │ $224.9 7.5 │ $224.3 2.1 │ $218.0 -4.4 │ $217.9 -3.2 │ $219.2 -1.0Fort Lauderdale-Pompano Beach-Dee $248.4 37.4 │ $271.0 44.3 │ $248.6 27.7 │ $177.5 -10.3 │ $147.7 -25.4 │ $148.0 -24.3Fort Smith, AR-OK $78.4 -8.9 │ $83.1 -6.1 │ $86.5 -6.7 │ $84.9 -12.9 │ $84.4 -16.5 │ $83.8 -16.7Fort Walton Beach-Crestview-Destin, $209.7 37.3 │ $215.0 31.8 │ $193.2 12.7 │ $159.1 -10.3 │ $144.7 -19.4 │ $147.2 -17.1Fort Wayne, IN $98.3 -4.2 │ $100.4 -5.4 │ $100.4 -8.2 │ $97.9 -11.7 │ $96.4 -14.9 │ $96.1 -13.4Fort Worth-Arlington, TX Metropolitan $105.5 -19.6 │ $109.0 -20.7 │ $113.0 -22.4 │ $113.1 -25.7 │ $113.8 -27.6 │ $113.3 -27.3Fresno, CA $257.9 59.5 │ $268.6 61.0 │ $241.3 38.4 │ $168.3 -6.5 │ $146.3 -18.1 │ $146.6 -16.8Gainesville, FL $155.2 18.4 │ $166.4 17.9 │ $170.1 12.6 │ $146.9 -5.9 │ $131.6 -16.2 │ $134.5 -13.4Gainesville, GA $140.7 -1.2 │ $147.9 1.8 │ $150.5 -2.1 │ $143.8 -9.5 │ $129.8 -19.1 │ $137.7 -13.3Gary, IN Metropolitan Division $124.4 1.3 │ $132.5 4.0 │ $134.5 1.6 │ $130.1 -3.1 │ $127.7 -6.2 │ $126.4 -7.2Grand Junction, CO $167.3 18.9 │ $193.7 28.9 │ $218.0 31.9 │ $217.4 17.5 │ $211.2 14.3 │ $206.4 14.0Grand Rapids-Wyoming, MI $131.0 7.4 │ $128.3 4.1 │ $120.0 -6.7 │ $109.0 -18.3 │ $106.2 -22.7 │ $105.3 -22.1Greeley, CO $175.5 19.0 │ $174.3 17.3 │ $170.4 11.8 │ $156.0 -0.1 │ $159.0 3.9 │ $157.2 5.0Green Bay, WI $140.1 10.8 │ $140.5 8.6 │ $141.5 4.6 │ $137.6 -2.2 │ $136.3 -5.8 │ $134.1 -6.7Greensboro-High Point, NC $118.4 -3.5 │ $122.6 -2.4 │ $124.3 -4.3 │ $123.8 -7.0 │ $123.4 -7.9 │ $123.3 -6.9Greenville, NC $94.6 -5.2 │ $98.7 -4.1 │ $102.2 -6.8 │ $100.6 -11.0 │ $100.0 -14.0 │ $98.9 -14.2Greenville, SC $110.3 -2.4 │ $112.4 -5.3 │ $118.2 -3.6 │ $119.7 -4.9 │ $119.0 -7.7 │ $122.1 -4.3Gulfport-Biloxi, MS $102.1 38.9 │ $122.7 17.3 │ $126.6 8.0 │ $118.6 6.2 │ $116.5 -6.6 │ $117.4 -4.7Hagerstown-Martinsburg, MD-WV $203.6 32.7 │ $219.0 38.3 │ $211.9 27.3 │ $190.3 10.8 │ $173.7 -1.6 │ $170.7 -2.2
7
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Hanford-Corcoran, CA $213.3 39.4 │ $222.9 39.0 │ $209.9 24.1 │ $157.4 -12.2 │ $137.8 -22.6 │ $144.2 -18.4Harrisburg-Carlisle, PA $148.3 5.5 │ $160.6 12.1 │ $166.4 11.3 │ $166.7 7.3 │ $164.4 4.4 │ $166.1 6.2Harrisonburg, VA $165.2 14.7 │ $183.5 20.5 │ $188.0 17.3 │ $178.2 6.9 │ $177.4 3.8 │ $177.0 3.9Hartford-West Hartford-East Hartford, $237.8 9.1 │ $243.0 6.2 │ $245.8 -1.0 │ $237.8 -6.9 │ $231.6 -8.7 │ $231.1 -7.7Hattiesburg, MS $84.6 1.3 │ $94.8 -5.5 │ $99.2 -4.7 │ $96.0 -11.1 │ $94.6 -16.7 │ $95.1 -14.5Hickory-Lenoir-Morganton, NC $101.3 3.5 │ $105.9 7.6 │ $111.8 10.9 │ $112.8 10.4 │ $110.7 7.3 │ $110.7 8.8Holland-Grand Haven, MI $155.1 10.8 │ $151.1 5.7 │ $143.8 -4.0 │ $132.2 -15.4 │ $129.2 -18.8 │ $128.1 -17.7Honolulu, HI $593.3 40.4 │ $625.9 38.9 │ $653.5 38.4 │ $642.8 32.2 │ $582.7 17.3 │ $605.3 21.9Houma-Bayou Cane-Thibodaux, LA $92.9 24.1 │ $104.1 -15.6 │ $111.0 -22.5 │ $115.5 -28.4 │ $115.1 -34.9 │ $116.2 -34.6Houston-Baytown-Sugar Land, TX $108.7 -22.9 │ $116.1 -23.4 │ $121.4 -26.6 │ $126.3 -28.6 │ $125.1 -31.3 │ $128.2 -28.8Huntington-Ashland, WV-KY-OH $81.6 3.3 │ $84.6 2.9 │ $89.9 3.0 │ $89.8 -4.3 │ $91.9 -7.9 │ $92.9 -5.9Huntsville, AL $116.0 -10.8 │ $126.7 -6.9 │ $133.1 -7.8 │ $132.9 -13.3 │ $132.7 -16.4 │ $132.8 -15.3Idaho Falls, ID $122.8 1.4 │ $131.0 6.6 │ $145.2 11.2 │ $142.2 6.0 │ $140.3 2.5 │ $136.3 0.8Indianapolis, IN $132.7 -8.9 │ $136.2 -9.6 │ $136.4 -11.9 │ $132.8 -16.6 │ $130.2 -19.2 │ $129.8 -18.7Iowa City, IA $145.3 3.1 │ $149.6 3.9 │ $150.7 -3.6 │ $149.3 -10.2 │ $148.6 -10.0 │ $152.4 -6.9Ithaca, NY $148.5 7.7 │ $160.2 13.3 │ $159.6 7.0 │ $167.7 4.6 │ $161.5 -1.7 │ $172.2 5.6Jackson, MI $120.2 21.9 │ $118.1 20.9 │ $109.1 6.7 │ $95.0 -9.4 │ $94.5 -13.0 │ $94.5 -11.5Jackson, MS $100.0 -11.7 │ $104.8 -14.3 │ $106.4 -16.3 │ $102.4 -22.0 │ $102.9 -25.2 │ $104.2 -23.9Jacksonville, FL $173.3 20.2 │ $188.2 20.2 │ $186.4 13.0 │ $159.3 -5.2 │ $141.0 -16.5 │ $141.9 -14.7Janesville, WI $124.5 21.6 │ $130.6 21.2 │ $131.9 20.1 │ $126.2 14.0 │ $124.8 12.2 │ $120.3 9.0Jefferson City, MO $108.9 -0.9 │ $113.7 3.3 │ $115.8 0.1 │ $113.1 -6.9 │ $113.3 -10.7 │ $113.5 -9.4Joplin, MO $87.5 1.2 │ $91.6 4.3 │ $92.7 0.3 │ $90.6 -7.3 │ $90.6 -12.2 │ $93.0 -8.6Kalamazoo-Portage, MI $125.0 11.6 │ $123.2 8.1 │ $120.0 -1.1 │ $109.6 -14.8 │ $109.7 -18.1 │ $109.4 -17.1Kankakee-Bradley, IL $121.6 8.5 │ $127.9 12.7 │ $131.9 8.9 │ $130.5 1.5 │ $127.3 -2.6 │ $131.9 3.7Kansas City, MO-KS $134.9 5.7 │ $137.4 4.6 │ $138.8 0.1 │ $132.5 -8.6 │ $131.1 -12.3 │ $130.4 -11.4Kennewick-Richland-Pasco, WA $146.0 10.8 │ $149.1 13.1 │ $151.0 6.6 │ $154.5 2.4 │ $154.2 -0.1 │ $155.3 -0.3Killeen-Temple-Fort Hood, TX $95.7 -16.2 │ $98.1 -19.9 │ $106.0 -21.2 │ $107.1 -26.9 │ $106.4 -29.8 │ $106.7 -28.8Kingsport-Bristol-Bristol, TN-VA $100.9 6.0 │ $109.0 8.8 │ $114.9 9.8 │ $114.7 5.1 │ $111.3 -0.7 │ $114.3 2.8Kingston, NY $211.3 27.1 │ $221.8 27.2 │ $224.5 23.2 │ $217.8 15.3 │ $208.7 10.1 │ $213.4 12.2Knoxville, TN $123.4 3.2 │ $132.6 7.0 │ $139.9 8.0 │ $136.0 1.3 │ $133.2 -2.6 │ $133.2 -1.7Kokomo, IN $97.4 10.7 │ $94.8 4.7 │ $92.8 0.6 │ $88.3 0.8 │ $86.4 3.8 │ $87.1 2.2La Crosse, WI-MN $125.8 15.3 │ $130.4 16.1 │ $132.3 12.4 │ $130.9 5.4 │ $131.0 3.1 │ $130.5 3.7Lafayette, IN $111.5 -5.8 │ $115.4 -4.8 │ $114.7 -9.4 │ $111.8 -15.9 │ $112.5 -17.9 │ $112.8 -15.1Lafayette, LA $109.7 -6.6 │ $121.6 -12.8 │ $127.0 -18.3 │ $125.8 -24.2 │ $127.3 -28.7 │ $126.7 -29.4Lake Charles, LA $85.5 376.7 │ $96.2 -11.0 │ $102.3 -17.2 │ $101.7 -23.0 │ $102.4 -27.5 │ $101.6 -29.4Lake County-Kenosha County, IL-WI M $252.0 3.7 │ $260.9 4.3 │ $261.2 -2.7 │ $249.2 -10.2 │ $234.1 -16.1 │ $233.8 -13.9Lakeland, FL $125.5 15.2 │ $142.4 24.9 │ $142.3 19.7 │ $118.4 -2.0 │ $101.1 -16.2 │ $98.1 -17.5Lancaster, PA $173.0 9.3 │ $187.9 16.7 │ $194.4 15.7 │ $191.5 9.3 │ $188.4 5.6 │ $188.4 6.3Lansing-East Lansing, MI $133.8 17.2 │ $131.0 12.2 │ $121.7 -0.7 │ $108.9 -14.7 │ $102.4 -23.0 │ $103.8 -20.2Las Cruces, NM $107.8 2.8 │ $120.4 11.5 │ $126.9 11.0 │ $124.9 3.0 │ $122.5 -2.9 │ $119.0 -3.8Las Vegas-Paradise, NV $274.8 27.9 │ $294.9 33.3 │ $274.1 19.8 │ $185.5 -19.9 │ $136.5 -39.3 │ $129.7 -41.4Lawrence, KS $152.5 4.0 │ $157.5 3.1 │ $159.6 -0.7 │ $157.7 -5.9 │ $154.8 -8.2 │ $159.8 -3.5
8
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Lebanon, PA $137.2 3.8 │ $145.3 6.4 │ $151.4 5.5 │ $150.2 -0.1 │ $151.5 -2.4 │ $150.9 -2.2Lewiston, ID-WA $146.6 19.2 │ $147.7 18.3 │ $150.2 14.4 │ $146.9 5.8 │ $142.1 -0.7 │ $139.8 -2.0Lexington-Fayette, KY $134.4 1.2 │ $140.8 0.1 │ $141.1 -5.0 │ $142.7 -6.2 │ $139.9 -10.1 │ $139.8 -9.7Lima, OH $100.3 6.9 │ $100.4 5.6 │ $102.9 4.7 │ $100.3 -0.2 │ $98.6 -5.3 │ $99.6 -3.6Lincoln, NE $124.9 0.4 │ $128.5 3.0 │ $127.6 -5.1 │ $123.6 -12.0 │ $124.3 -11.7 │ $125.1 -10.6Little Rock-North Little Rock, AR $103.7 -7.1 │ $108.4 -8.0 │ $111.4 -13.1 │ $108.2 -18.4 │ $106.7 -22.8 │ $106.9 -21.6Logan, UT-ID $157.1 6.9 │ $166.4 12.9 │ $181.4 16.7 │ $182.0 11.9 │ $173.2 7.7 │ $174.8 9.8Longview, TX $81.2 -12.0 │ $89.0 -8.6 │ $96.1 -8.6 │ $99.1 -13.6 │ $99.8 -15.7 │ $99.8 -14.9Longview, WA $172.1 24.7 │ $201.2 39.9 │ $209.8 38.0 │ $207.1 32.9 │ $191.1 24.1 │ $184.7 22.3Los Angeles-Long Beach-Glendale, C $500.6 52.1 │ $547.5 56.0 │ $514.8 40.0 │ $392.9 3.5 │ $351.4 -6.3 │ $368.0 -1.4Louisville, KY-IN $124.7 2.1 │ $128.3 -0.3 │ $129.6 -3.9 │ $130.1 -5.7 │ $128.2 -9.5 │ $128.4 -8.9Lubbock, TX $81.0 -8.5 │ $84.9 -5.1 │ $86.3 -7.9 │ $87.4 -11.6 │ $87.7 -14.8 │ $88.8 -13.3Lynchburg, VA $126.9 6.6 │ $140.5 11.4 │ $148.9 14.0 │ $145.2 7.2 │ $147.0 4.9 │ $146.3 4.6Macon, GA $97.5 -4.1 │ $102.0 -0.7 │ $103.0 -3.5 │ $100.3 -11.4 │ $94.8 -18.2 │ $97.4 -14.8Madera, CA $301.9 66.5 │ $315.0 71.8 │ $288.1 48.8 │ $194.2 -1.1 │ $170.0 -12.3 │ $170.1 -11.3Madison, WI $197.9 14.8 │ $202.8 12.7 │ $203.5 7.5 │ $198.5 0.5 │ $197.1 -1.3 │ $195.4 -2.8Manchester-Nashua, NH $241.4 25.0 │ $235.6 18.9 │ $231.8 9.7 │ $212.0 -3.1 │ $210.6 -5.2 │ $207.0 -6.1Mansfield, OH $106.8 11.0 │ $108.6 12.7 │ $103.8 6.5 │ $100.3 -0.5 │ $96.0 -5.8 │ $100.2 -0.3McAllen-Edinburg-Pharr, TX $56.0 -16.0 │ $59.4 -12.1 │ $63.1 -12.8 │ $63.6 -19.5 │ $60.9 -27.0 │ $61.8 -25.9Medford, OR $271.5 54.1 │ $282.1 51.2 │ $273.1 40.6 │ $241.7 22.7 │ $217.6 10.2 │ $211.1 8.2Memphis, TN-MS-AR $106.6 -9.9 │ $109.9 -9.4 │ $112.1 -11.2 │ $106.8 -16.9 │ $104.3 -21.6 │ $103.3 -21.7Merced, CA $291.6 85.3 │ $297.9 88.0 │ $242.3 42.5 │ $124.5 -27.6 │ $104.3 -37.7 │ $102.3 -37.7Miami-Miami Beach-Kendall, FL Metro $262.0 41.7 │ $301.0 48.9 │ $312.6 46.8 │ $227.7 4.6 │ $182.9 -15.9 │ $191.2 -11.4Michigan City-La Porte, IN $114.3 11.6 │ $120.9 15.7 │ $122.3 13.3 │ $118.9 5.9 │ $117.9 1.7 │ $116.1 1.6Midland, TX $88.4 -25.8 │ $107.8 -21.5 │ $126.4 -18.5 │ $129.2 -29.6 │ $130.4 -33.1 │ $133.1 -30.7Milwaukee-Waukesha-West Allis, WI $187.2 14.6 │ $192.2 11.9 │ $192.3 6.2 │ $186.2 -1.7 │ $182.8 -3.7 │ $180.5 -4.3Minneapolis-St. Paul-Bloomington, M $221.7 22.5 │ $222.8 20.5 │ $215.8 10.0 │ $196.2 -3.8 │ $183.3 -9.5 │ $183.8 -8.2Missoula, MT $211.4 16.9 │ $232.8 23.5 │ $239.2 18.2 │ $238.7 13.3 │ $232.8 8.6 │ $232.7 8.8Mobile, AL $94.9 7.6 │ $111.1 6.1 │ $116.4 7.4 │ $114.2 -0.5 │ $112.9 -5.4 │ $111.8 -6.0Modesto, CA $326.8 68.4 │ $322.5 63.5 │ $276.3 35.1 │ $159.7 -23.0 │ $138.7 -32.2 │ $138.7 -31.8Monroe, LA $87.4 -4.3 │ $91.0 -10.1 │ $94.8 -14.1 │ $95.5 -16.6 │ $93.9 -23.5 │ $96.3 -22.3Monroe, MI $156.5 22.9 │ $152.9 19.8 │ $135.3 2.7 │ $118.1 -9.6 │ $113.3 -15.5 │ $112.1 -15.3Montgomery, AL $101.6 -9.3 │ $109.5 -5.6 │ $113.0 -6.4 │ $109.5 -14.0 │ $108.2 -18.2 │ $105.9 -19.0Mount Vernon-Anacortes, WA $247.7 25.7 │ $280.3 31.1 │ $296.0 29.1 │ $282.6 18.7 │ $265.8 12.5 │ $262.4 12.1Muskegon-Norton Shores, MI $100.4 11.7 │ $98.2 9.2 │ $92.6 -0.7 │ $86.8 -11.4 │ $83.3 -18.2 │ $82.0 -18.1Myrtle Beach-Conway-North Myrtle Be $131.4 8.5 │ $155.1 22.9 │ $162.4 29.2 │ $148.9 20.3 │ $142.2 14.3 │ $142.0 15.0Napa, CA $567.9 62.1 │ $537.6 44.6 │ $501.2 25.1 │ $379.7 -8.9 │ $330.3 -18.2 │ $340.1 -15.5Naples-Marco Island, FL $353.1 45.5 │ $391.4 44.8 │ $341.6 19.3 │ $231.1 -20.3 │ $197.3 -31.5 │ $199.9 -29.0Nashville-Davidson--Murfreesboro, TN $152.6 -4.5 │ $167.5 0.4 │ $176.2 1.8 │ $170.9 -3.6 │ $166.0 -7.5 │ $165.5 -6.5Nassau-Suffolk, NY Metropolitan Divis $454.6 36.8 │ $461.1 32.4 │ $459.7 24.2 │ $429.6 10.3 │ $405.9 3.1 │ $411.0 4.1New Haven-Milford, CT $259.3 17.5 │ $267.8 15.9 │ $268.8 8.6 │ $251.6 -1.5 │ $242.4 -4.9 │ $240.2 -5.5New Orleans-Metairie-Kenner, LA $134.5 -440.2 │ $154.4 1.2 │ $157.6 -9.1 │ $151.0 -11.2 │ $149.1 -14.7 │ $146.6 -16.
9
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
New York-Wayne-White Plains, NY-NJ $487.5 23.5 │ $508.1 20.1 │ $510.6 11.3 │ $484.6 0.9 │ $463.9 -4.7 │ $456.6 -7.1Newark-Union, NJ-PA Metropolitan Di $389.5 25.2 │ $406.1 23.0 │ $402.3 15.1 │ $377.9 4.7 │ $362.8 -0.7 │ $362.7 -0.9Niles-Benton Harbor, MI $120.8 15.3 │ $124.5 15.9 │ $123.9 7.0 │ $115.3 -5.9 │ $115.6 -9.2 │ $117.4 -6.3Norwich-New London, CT $248.5 18.7 │ $254.1 17.2 │ $255.5 10.9 │ $245.6 2.3 │ $233.0 -1.8 │ $230.2 -2.2Oakland-Fremont-Hayward, CA Metro $609.8 52.9 │ $582.4 36.9 │ $531.0 18.5 │ $372.7 -18.3 │ $335.5 -25.2 │ $349.8 -21.7Ocala, FL $129.7 21.3 │ $148.1 28.0 │ $144.3 19.2 │ $117.6 -3.6 │ $101.6 -16.6 │ $98.6 -17.5Ocean City, NJ $311.7 50.7 │ $331.0 56.1 │ $326.0 49.0 │ $301.3 30.4 │ $298.0 26.5 │ $294.8 26.6Odessa, TX $54.7 -17.7 │ $66.3 -10.3 │ $78.0 -6.9 │ $84.2 -13.2 │ $83.1 -19.1 │ $80.7 -19.9Ogden-Clearfield, UT $168.5 0.0 │ $189.8 8.4 │ $214.3 18.5 │ $204.1 11.0 │ $189.5 3.3 │ $189.8 5.6Oklahoma City, OK $97.5 -12.0 │ $102.5 -14.7 │ $106.9 -18.0 │ $106.9 -23.9 │ $107.6 -25.7 │ $108.1 -24.2Olympia, WA $224.3 21.3 │ $254.9 30.3 │ $264.4 26.0 │ $254.3 16.2 │ $239.3 9.1 │ $237.8 10.1Omaha-Council Bluffs, NE-IA $121.2 -4.6 │ $124.4 -2.5 │ $124.8 -9.8 │ $118.9 -18.0 │ $121.7 -15.9 │ $122.1 -16.5Orlando, FL $196.4 24.5 │ $219.1 31.1 │ $212.4 22.6 │ $167.6 -4.4 │ $142.8 -17.3 │ $141.2 -17.1Oshkosh-Neenah, WI $122.4 4.9 │ $124.8 1.8 │ $126.2 -3.1 │ $124.1 -9.2 │ $124.0 -12.6 │ $122.7 -13.7Owensboro, KY $87.3 -4.4 │ $87.0 -7.3 │ $89.4 -9.4 │ $89.8 -13.9 │ $89.5 -18.7 │ $91.6 -16.6Oxnard-Thousand Oaks-Ventura, CA $562.7 50.2 │ $566.8 41.9 │ $509.8 21.6 │ $370.9 -12.1 │ $335.7 -18.7 │ $350.1 -14.3Palm Bay-Melbourne-Titusville, FL $204.6 43.6 │ $208.7 39.0 │ $182.0 17.2 │ $137.1 -13.6 │ $121.4 -23.5 │ $118.4 -24.4Panama City-Lynn Haven, FL $172.5 37.4 │ $175.9 33.5 │ $165.8 21.8 │ $144.7 3.0 │ $129.0 -9.4 │ $129.0 -8.6Parkersburg-Marietta, WV-OH $87.3 3.5 │ $90.7 3.7 │ $92.0 -1.0 │ $93.8 -5.7 │ $95.0 -9.9 │ $97.0 -8.1Pensacola-Ferry Pass-Brent, FL $156.5 28.1 │ $156.5 19.2 │ $148.1 7.0 │ $127.0 -11.1 │ $115.4 -20.1 │ $119.2 -16.5Peoria, IL $108.7 0.4 │ $112.2 -0.6 │ $114.7 -4.9 │ $114.4 -11.0 │ $113.2 -13.1 │ $116.9 -7.5Philadelphia, PA Metropolitan Divisio $226.4 16.3 │ $238.3 16.1 │ $243.9 11.9 │ $237.4 4.0 │ $231.6 -1.3 │ $227.7 -2.7Phoenix-Mesa-Scottsdale, AZ $235.9 36.0 │ $255.3 38.5 │ $247.9 31.3 │ $192.8 2.4 │ $151.4 -18.8 │ $150.7 -18.0Pittsburgh, PA $105.5 -2.4 │ $108.6 -4.7 │ $111.8 -7.7 │ $113.3 -11.3 │ $114.1 -14.4 │ $115.9 -12.5Pittsfield, MA $189.6 9.6 │ $198.4 12.2 │ $204.9 9.9 │ $195.4 0.4 │ $203.8 1.7 │ $205.2 3.5Port St. Lucie-Fort Pierce, FL $233.8 51.4 │ $236.5 44.0 │ $207.4 19.7 │ $139.5 -20.2 │ $120.4 -31.5 │ $115.6 -33.3Portland-South Portland-Biddeford, M $221.3 29.7 │ $218.9 23.0 │ $220.7 15.9 │ $214.2 7.0 │ $213.5 3.5 │ $207.2 1.4Portland-Vancouver-Beaverton, OR-W $263.1 30.6 │ $299.2 41.9 │ $310.8 40.1 │ $294.6 30.1 │ $268.9 19.7 │ $267.6 20.8Poughkeepsie-Newburgh-Middletown $281.7 29.3 │ $291.3 29.4 │ $285.9 20.6 │ $274.5 11.0 │ $257.7 3.1 │ $259.2 3.7Prescott, AZ $219.8 40.7 │ $236.3 42.8 │ $234.2 36.6 │ $197.3 12.5 │ $167.4 -5.2 │ $164.0 -6.0Providence-New Bedford-Fall River, R $283.6 34.0 │ $279.1 26.2 │ $265.6 14.5 │ $241.9 0.3 │ $233.3 -6.2 │ $235.5 -4.9Provo-Orem, UT $188.8 8.7 │ $222.1 22.5 │ $253.9 35.0 │ $234.4 21.8 │ $209.3 10.5 │ $203.3 8.9Pueblo, CO $117.9 8.7 │ $125.2 13.2 │ $125.1 6.7 │ $115.4 -7.7 │ $119.9 -4.5 │ $119.5 -3.5Punta Gorda, FL $201.7 52.2 │ $209.0 44.9 │ $176.3 16.3 │ $127.9 -16.8 │ $113.5 -26.6 │ $110.4 -27.8Racine, WI $157.2 20.0 │ $162.1 19.9 │ $161.7 14.1 │ $155.5 6.2 │ $154.2 3.2 │ $152.0 2.7Raleigh-Cary, NC $166.3 -7.6 │ $177.6 -5.8 │ $188.8 -5.4 │ $190.1 -6.1 │ $185.4 -9.2 │ $186.4 -7.6Reading, PA $161.2 13.8 │ $175.2 17.2 │ $181.2 16.1 │ $176.6 9.5 │ $171.7 4.3 │ $171.2 4.7Redding, CA $271.7 56.3 │ $271.9 48.9 │ $251.6 33.3 │ $200.9 4.5 │ $178.6 -5.1 │ $182.1 -2.1Reno-Sparks, NV $314.7 38.8 │ $317.9 39.2 │ $284.5 19.7 │ $227.2 -6.0 │ $174.2 -26.0 │ $169.7 -26.5Richmond, VA $173.1 10.3 │ $189.8 16.6 │ $199.8 17.5 │ $188.9 8.2 │ $183.0 2.5 │ $179.2 1.2Riverside-San Bernardino-Ontario, CA $334.1 58.7 │ $353.1 62.2 │ $326.5 46.9 │ $212.2 -4.8 │ $174.5 -19.6 │ $178.3 -16.9Roanoke, VA $139.9 7.6 │ $150.2 10.8 │ $158.2 11.8 │ $153.5 6.3 │ $156.2 6.1 │ $154.2 5.3
10
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Rochester, MN $145.4 6.3 │ $145.9 2.9 │ $144.4 -3.1 │ $137.9 -10.9 │ $137.1 -10.8 │ $138.1 -9.7Rochester, NY $117.0 -8.2 │ $116.1 -10.5 │ $118.5 -12.4 │ $121.8 -14.5 │ $120.9 -16.2 │ $125.1 -13.0Rockford, IL $122.0 9.9 │ $126.5 10.3 │ $129.0 6.5 │ $125.8 0.1 │ $122.4 -3.4 │ $124.6 1.1Rockingham County-Strafford County $253.6 23.2 │ $248.0 17.0 │ $245.2 9.0 │ $225.9 -1.4 │ $221.3 -4.7 │ $217.6 -4.8Rocky Mount, NC $90.0 -6.4 │ $92.1 -5.3 │ $92.6 -8.1 │ $93.5 -10.4 │ $90.8 -16.2 │ $95.9 -10.3Rome, GA $102.5 5.6 │ $103.6 6.1 │ $104.9 2.6 │ $100.7 -6.4 │ $94.9 -15.5 │ $100.5 -9.1Sacramento--Arden-Arcade--Roseville $393.8 57.5 │ $369.0 41.9 │ $321.2 19.2 │ $235.7 -14.6 │ $215.2 -20.5 │ $218.5 -18.7Saginaw-Saginaw Township North, M $101.1 17.4 │ $97.8 13.3 │ $91.2 2.3 │ $81.5 -10.8 │ $80.6 -14.6 │ $81.7 -11.9Salem, OR $186.0 21.7 │ $212.0 31.8 │ $224.1 33.3 │ $215.2 24.0 │ $202.2 16.7 │ $201.0 18.2Salinas, CA $627.2 77.4 │ $620.5 62.9 │ $524.6 29.3 │ $335.1 -20.1 │ $305.6 -25.9 │ $310.2 -24.3Salt Lake City, UT $202.7 2.0 │ $243.2 17.4 │ $273.5 30.2 │ $256.3 20.1 │ $230.5 9.9 │ $228.1 10.4San Angelo, TX $76.6 -12.1 │ $84.5 -2.9 │ $94.3 2.9 │ $94.7 -3.4 │ $97.7 -4.2 │ $99.3 -1.4San Antonio, TX $96.9 -15.0 │ $105.2 -10.4 │ $113.3 -8.6 │ $113.2 -13.3 │ $113.4 -16.4 │ $113.8 -15.6San Diego-Carlsbad-San Marcos, CA $508.7 42.1 │ $481.6 28.5 │ $454.4 15.2 │ $353.0 -14.6 │ $329.2 -19.9 │ $336.9 -17.3San Francisco-San Mateo-Redwood C $807.8 33.5 │ $808.6 22.4 │ $771.5 7.6 │ $644.0 -14.1 │ $581.3 -21.2 │ $603.1 -17.8San Jose-Sunnyvale-Santa Clara, CA $716.1 42.4 │ $723.5 32.5 │ $686.3 16.7 │ $561.1 -4.9 │ $491.4 -14.0 │ $507.0 -10.2San Luis Obispo-Paso Robles, CA $510.9 54.8 │ $487.3 37.4 │ $448.8 20.9 │ $371.5 -3.3 │ $331.2 -12.5 │ $341.3 -9.3Sandusky, OH $129.5 7.0 │ $124.7 1.8 │ $129.8 3.5 │ $117.6 -9.4 │ $119.8 -12.5 │ $120.1 -12.6Santa Ana-Anaheim-Irvine, CA Metrop $611.6 33.8 │ $635.9 30.8 │ $579.7 15.5 │ $485.0 -5.5 │ $454.7 -10.2 │ $469.3 -6.9Santa Barbara-Santa Maria-Goleta, CA $661.3 64.5 │ $640.5 46.1 │ $538.4 14.5 │ $410.3 -16.5 │ $377.5 -22.4 │ $385.7 -20.2Santa Cruz-Watsonville, CA $669.4 50.4 │ $658.0 35.0 │ $619.9 20.2 │ $504.8 -3.6 │ $449.5 -12.5 │ $457.1 -10.5Santa Fe, NM $266.8 18.5 │ $293.7 24.8 │ $301.8 21.7 │ $295.0 14.1 │ $283.6 7.0 │ $275.2 4.9Santa Rosa-Petaluma, CA $555.4 60.3 │ $525.9 40.9 │ $469.6 19.4 │ $356.8 -11.6 │ $319.3 -19.1 │ $326.9 -16.8Sarasota-Bradenton-Venice, FL $237.1 41.1 │ $246.4 37.5 │ $215.2 14.6 │ $155.3 -18.0 │ $137.4 -27.6 │ $133.9 -28.0Savannah, GA $135.2 12.7 │ $148.6 17.2 │ $154.5 12.8 │ $144.6 0.6 │ $136.7 -7.3 │ $141.4 -2.2Scranton--Wilkes-Barre, PA $121.2 6.3 │ $132.7 13.3 │ $138.1 12.0 │ $138.6 7.3 │ $138.1 3.6 │ $138.1 4.1Seattle-Bellevue-Everett, WA Metropo $343.1 25.4 │ $392.7 31.9 │ $413.7 26.7 │ $392.7 16.3 │ $354.0 6.0 │ $346.5 4.9Sheboygan, WI $135.1 8.6 │ $141.8 10.7 │ $143.3 6.5 │ $139.2 0.5 │ $140.0 -1.0 │ $137.2 -2.6Sherman-Denison, TX $85.0 -1.0 │ $86.0 -2.2 │ $86.5 -6.6 │ $90.5 -6.5 │ $88.0 -11.5 │ $92.4 -7.1Shreveport-Bossier City, LA $94.1 -6.2 │ $100.5 -10.9 │ $103.5 -16.3 │ $102.7 -21.4 │ $102.9 -26.3 │ $102.7 -26.5Sioux Falls, SD $119.4 -1.6 │ $121.4 -0.2 │ $125.9 -5.8 │ $127.7 -9.0 │ $128.3 -8.7 │ $126.0 -9.9South Bend-Mishawaka, IN-MI $102.3 -5.9 │ $106.0 -5.6 │ $107.0 -7.9 │ $105.5 -11.0 │ $104.1 -15.1 │ $103.3 -14.1Spartanburg, SC $95.4 -2.1 │ $95.6 -5.0 │ $100.3 -3.3 │ $101.8 -5.1 │ $100.1 -8.8 │ $101.8 -6.4Spokane, WA $167.7 16.8 │ $189.5 25.0 │ $203.3 25.2 │ $198.2 18.0 │ $188.4 13.0 │ $189.4 14.6Springfield, IL $104.9 -3.6 │ $106.0 -2.6 │ $107.4 -6.9 │ $106.7 -13.2 │ $105.5 -15.7 │ $110.0 -10.1Springfield, MA $208.7 17.0 │ $209.7 14.9 │ $213.3 10.5 │ $203.3 0.3 │ $203.3 -1.7 │ $202.2 -2.2Springfield, MO $110.2 -3.9 │ $117.2 0.3 │ $119.2 -2.8 │ $115.4 -8.3 │ $114.5 -12.7 │ $113.3 -12.6Springfield, OH $107.3 10.5 │ $104.6 5.6 │ $107.7 6.1 │ $101.4 -3.9 │ $99.8 -9.4 │ $100.7 -7.4St. Cloud, MN $152.4 21.5 │ $156.9 21.1 │ $152.3 12.0 │ $144.1 0.1 │ $139.7 -2.8 │ $139.1 -2.3St. George, UT $217.4 23.7 │ $255.0 44.8 │ $252.9 49.9 │ $215.1 32.1 │ $183.7 15.2 │ $179.7 14.7St. Joseph, MO-KS $93.9 6.4 │ $97.8 6.5 │ $100.7 2.4 │ $95.4 -7.7 │ $97.8 -10.9 │ $98.7 -10.3St. Louis, MO-IL $138.4 11.4 │ $143.2 12.8 │ $144.0 6.5 │ $138.5 -3.8 │ $136.8 -8.7 │ $135.3 -8.6
11
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
State College, PA $155.5 10.6 │ $162.5 10.4 │ $169.5 9.0 │ $169.8 4.0 │ $170.1 0.9 │ $174.0 2.5Stockton, CA $350.1 73.4 │ $344.0 65.5 │ $291.0 35.5 │ $162.3 -25.4 │ $145.1 -32.4 │ $145.1 -31.8Syracuse, NY $111.7 -3.8 │ $115.5 -2.5 │ $119.2 -4.4 │ $122.4 -6.8 │ $120.7 -9.0 │ $125.7 -5.3Tacoma, WA Metropolitan Division $239.4 20.8 │ $274.3 29.7 │ $288.0 27.9 │ $271.1 18.1 │ $248.9 9.1 │ $241.8 6.6Tallahassee, FL $154.0 17.6 │ $164.2 18.7 │ $161.6 9.2 │ $148.2 -2.6 │ $133.7 -12.9 │ $135.2 -11.1Tampa-St. Petersburg-Clearwater, FL $174.8 26.7 │ $189.1 29.6 │ $175.6 15.4 │ $144.0 -7.0 │ $127.2 -17.8 │ $127.1 -16.7Toledo, OH $116.5 13.0 │ $115.8 9.6 │ $113.0 3.2 │ $105.6 -5.1 │ $101.9 -10.2 │ $102.8 -8.7Topeka, KS $100.6 4.9 │ $104.8 9.1 │ $106.9 4.3 │ $106.4 -2.1 │ $106.0 -4.3 │ $107.2 -2.9Trenton-Ewing, NJ $282.4 21.3 │ $290.2 17.1 │ $282.5 6.5 │ $268.1 -4.5 │ $258.0 -10.4 │ $260.0 -9.5Tucson, AZ $186.7 26.4 │ $201.9 27.9 │ $200.3 21.1 │ $169.9 -1.5 │ $148.9 -15.1 │ $148.2 -15.0Tulsa, OK $94.6 -13.7 │ $98.6 -17.3 │ $104.5 -19.5 │ $105.6 -24.4 │ $105.7 -27.0 │ $107.3 -24.6Tyler, TX $98.9 -12.1 │ $105.1 -7.3 │ $110.2 -7.2 │ $106.9 -16.0 │ $109.7 -16.8 │ $110.0 -15.3Utica-Rome, NY $102.9 -1.2 │ $106.7 0.6 │ $115.3 3.5 │ $119.3 1.1 │ $118.6 -1.2 │ $123.9 3.3Vallejo-Fairfield, CA $419.9 60.9 │ $411.5 50.9 │ $362.1 26.3 │ $225.9 -23.3 │ $193.5 -33.7 │ $196.9 -31.9Vero Beach, FL $206.9 29.8 │ $205.0 13.6 │ $181.7 -8.4 │ $140.2 -32.5 │ $125.0 -40.6 │ $123.3 -39.8Vineland-Millville-Bridgeton, NJ $159.4 26.0 │ $172.0 34.0 │ $181.7 36.8 │ $180.1 29.1 │ $161.2 12.4 │ $159.4 10.8Virginia Beach-Norfolk-Newport News $203.8 19.7 │ $226.0 26.2 │ $234.8 26.0 │ $218.9 13.5 │ $212.4 6.7 │ $209.8 5.7Visalia-Porterville, CA $213.6 44.9 │ $227.7 52.6 │ $205.3 29.4 │ $150.3 -8.4 │ $131.0 -19.2 │ $129.0 -19.6Waco, TX $85.5 -8.4 │ $90.3 -4.5 │ $92.6 -7.1 │ $93.2 -11.7 │ $94.5 -13.0 │ $94.9 -12.0Warner Robins, GA $100.0 -8.6 │ $105.4 -6.0 │ $107.3 -7.8 │ $102.4 -15.1 │ $96.4 -22.9 │ $100.3 -18.2Warren-Farmington Hills-Troy, MI Met $189.0 12.8 │ $179.7 8.8 │ $162.0 -6.0 │ $137.1 -21.8 │ $119.7 -32.5 │ $117.5 -32.3Washington-Arlington-Alexandria, DC $393.9 37.2 │ $402.8 34.7 │ $386.0 23.1 │ $316.9 -2.8 │ $307.1 -8.0 │ $316.4 -5.2Waterloo-Cedar Falls, IA $102.6 12.5 │ $106.1 16.1 │ $108.1 9.3 │ $107.3 2.3 │ $106.9 2.4 │ $109.8 7.3Wausau, WI $127.1 8.3 │ $127.6 6.1 │ $132.4 4.9 │ $130.8 0.5 │ $130.3 -1.7 │ $128.8 -1.9Wenatchee, WA $188.9 11.6 │ $226.0 27.6 │ $261.5 38.8 │ $252.5 29.0 │ $245.1 29.0 │ $240.9 28.9West Palm Beach-Boca Raton-Boynto $274.5 39.5 │ $292.0 37.2 │ $262.2 15.0 │ $189.5 -20.1 │ $163.6 -31.8 │ $164.4 -30.3Wichita Falls, TX $71.9 -11.6 │ $77.9 -11.1 │ $81.0 -13.6 │ $78.9 -22.1 │ $79.7 -24.5 │ $83.3 -20.6Wichita, KS $94.3 -9.0 │ $99.4 -10.3 │ $101.7 -12.9 │ $102.2 -18.5 │ $104.8 -18.8 │ $106.8 -16.6Wilmington, DE-MD-NJ Metropolitan D $223.7 15.1 │ $242.7 18.6 │ $245.2 16.7 │ $230.7 7.7 │ $228.0 5.7 │ $219.7 2.5Wilmington, NC $160.9 11.4 │ $192.2 30.5 │ $199.8 30.7 │ $189.8 21.6 │ $181.1 14.0 │ $179.2 14.4Winston-Salem, NC $120.7 -2.1 │ $126.3 1.3 │ $127.8 -1.7 │ $124.7 -6.5 │ $126.6 -8.0 │ $127.6 -5.9Worcester, MA $253.1 25.9 │ $245.9 17.4 │ $236.4 5.8 │ $218.9 -5.7 │ $215.6 -9.7 │ $213.0 -10.5Yakima, WA $137.4 12.5 │ $146.6 15.8 │ $156.4 15.5 │ $156.6 10.2 │ $157.8 10.5 │ $157.0 9.8York-Hanover, PA $163.5 12.9 │ $181.3 23.6 │ $187.0 22.8 │ $182.6 15.6 │ $174.9 8.7 │ $172.6 8.1Youngstown-Warren-Boardman, OH-P $97.7 10.1 │ $99.5 9.4 │ $97.4 4.5 │ $93.3 -1.8 │ $93.8 -3.9 │ $92.9 -3.5Yuba City, CA $276.4 65.4 │ $269.3 57.5 │ $228.7 30.7 │ $155.9 -12.3 │ $139.9 -19.1 │ $146.1 -15.3
12
House Prices in America: 3rd Quarter 2009 Update
IHS Global Insight / PNC Financial Services Group Page 13 Decdmber 2009
Appendix B: Metropolitan Area House Valuations
Valuation Ranking
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Atlantic City, NJ $253.4 55.2 │ $273.0 65.2 │ $268.2 58.4 │ $250.0 41.9 │ $239.2 36.2 │ $232.1 30.2Wenatchee, WA $188.9 11.6 │ $226.0 27.6 │ $261.5 38.8 │ $252.5 29.0 │ $245.1 29.0 │ $240.9 28.9Ocean City, NJ $311.7 50.7 │ $331.0 56.1 │ $326.0 49.0 │ $301.3 30.4 │ $298.0 26.5 │ $294.8 26.6Longview, WA $172.1 24.7 │ $201.2 39.9 │ $209.8 38.0 │ $207.1 32.9 │ $191.1 24.1 │ $184.7 22.3Honolulu, HI $593.3 40.4 │ $625.9 38.9 │ $653.5 38.4 │ $642.8 32.2 │ $582.7 17.3 │ $605.3 21.9Asheville, NC $143.9 15.1 │ $163.3 26.4 │ $175.3 29.4 │ $173.2 23.9 │ $171.2 19.0 │ $172.9 21.8Portland-Vancouver-Beaverton, OR-W $263.1 30.6 │ $299.2 41.9 │ $310.8 40.1 │ $294.6 30.1 │ $268.9 19.7 │ $267.6 20.8Bellingham, WA $271.6 37.2 │ $299.3 41.3 │ $303.6 32.6 │ $295.7 24.5 │ $285.6 21.1 │ $280.2 20.0Corvallis, OR $232.2 13.0 │ $267.0 25.2 │ $283.0 26.6 │ $280.3 22.5 │ $259.5 13.6 │ $266.4 18.9Salem, OR $186.0 21.7 │ $212.0 31.8 │ $224.1 33.3 │ $215.2 24.0 │ $202.2 16.7 │ $201.0 18.2Eugene-Springfield, OR $210.3 28.9 │ $239.2 38.1 │ $247.4 36.3 │ $235.3 26.5 │ $219.3 17.3 │ $218.1 17.4Myrtle Beach-Conway-North Myrtle B $131.4 8.5 │ $155.1 22.9 │ $162.4 29.2 │ $148.9 20.3 │ $142.2 14.3 │ $142.0 15.0St. George, UT $217.4 23.7 │ $255.0 44.8 │ $252.9 49.9 │ $215.1 32.1 │ $183.7 15.2 │ $179.7 14.7Spokane, WA $167.7 16.8 │ $189.5 25.0 │ $203.3 25.2 │ $198.2 18.0 │ $188.4 13.0 │ $189.4 14.6Wilmington, NC $160.9 11.4 │ $192.2 30.5 │ $199.8 30.7 │ $189.8 21.6 │ $181.1 14.0 │ $179.2 14.4Grand Junction, CO $167.3 18.9 │ $193.7 28.9 │ $218.0 31.9 │ $217.4 17.5 │ $211.2 14.3 │ $206.4 14.0Duluth, MN-WI $120.1 29.9 │ $122.4 27.5 │ $125.6 23.8 │ $120.7 12.9 │ $119.4 11.4 │ $120.3 13.8Kingston, NY $211.3 27.1 │ $221.8 27.2 │ $224.5 23.2 │ $217.8 15.3 │ $208.7 10.1 │ $213.4 12.2Bend, OR $249.3 34.8 │ $318.8 63.4 │ $313.5 59.3 │ $265.2 37.4 │ $225.3 16.7 │ $212.6 12.1Mount Vernon-Anacortes, WA $247.7 25.7 │ $280.3 31.1 │ $296.0 29.1 │ $282.6 18.7 │ $265.8 12.5 │ $262.4 12.1Vineland-Millville-Bridgeton, NJ $159.4 26.0 │ $172.0 34.0 │ $181.7 36.8 │ $180.1 29.1 │ $161.2 12.4 │ $159.4 10.8Salt Lake City, UT $202.7 2.0 │ $243.2 17.4 │ $273.5 30.2 │ $256.3 20.1 │ $230.5 9.9 │ $228.1 10.4Olympia, WA $224.3 21.3 │ $254.9 30.3 │ $264.4 26.0 │ $254.3 16.2 │ $239.3 9.1 │ $237.8 10.1Yakima, WA $137.4 12.5 │ $146.6 15.8 │ $156.4 15.5 │ $156.6 10.2 │ $157.8 10.5 │ $157.0 9.8Logan, UT-ID $157.1 6.9 │ $166.4 12.9 │ $181.4 16.7 │ $182.0 11.9 │ $173.2 7.7 │ $174.8 9.8Janesville, WI $124.5 21.6 │ $130.6 21.2 │ $131.9 20.1 │ $126.2 14.0 │ $124.8 12.2 │ $120.3 9.0Provo-Orem, UT $188.8 8.7 │ $222.1 22.5 │ $253.9 35.0 │ $234.4 21.8 │ $209.3 10.5 │ $203.3 8.9Hickory-Lenoir-Morganton, NC $101.3 3.5 │ $105.9 7.6 │ $111.8 10.9 │ $112.8 10.4 │ $110.7 7.3 │ $110.7 8.8Missoula, MT $211.4 16.9 │ $232.8 23.5 │ $239.2 18.2 │ $238.7 13.3 │ $232.8 8.6 │ $232.7 8.8Dover, DE $168.4 15.6 │ $187.2 23.9 │ $190.2 23.0 │ $177.3 12.2 │ $176.8 11.8 │ $168.3 8.3Medford, OR $271.5 54.1 │ $282.1 51.2 │ $273.1 40.6 │ $241.7 22.7 │ $217.6 10.2 │ $211.1 8.2Dubuque, IA $114.0 7.8 │ $120.5 12.1 │ $123.1 6.7 │ $121.3 0.2 │ $121.4 3.2 │ $125.6 8.1York-Hanover, PA $163.5 12.9 │ $181.3 23.6 │ $187.0 22.8 │ $182.6 15.6 │ $174.9 8.7 │ $172.6 8.1Charleston-North Charleston, SC $151.7 13.4 │ $170.7 21.6 │ $175.7 19.9 │ $169.1 12.8 │ $161.0 5.3 │ $162.2 7.5Waterloo-Cedar Falls, IA $102.6 12.5 │ $106.1 16.1 │ $108.1 9.3 │ $107.3 2.3 │ $106.9 2.4 │ $109.8 7.3Tacoma, WA Metropolitan Division $239.4 20.8 │ $274.3 29.7 │ $288.0 27.9 │ $271.1 18.1 │ $248.9 9.1 │ $241.8 6.6Charlottesville, VA $230.7 21.5 │ $251.5 22.3 │ $260.5 20.7 │ $245.1 10.7 │ $238.8 6.2 │ $238.8 6.3Boise City-Nampa, ID $162.3 9.5 │ $199.0 27.7 │ $204.5 27.5 │ $186.9 19.0 │ $169.1 10.1 │ $161.3 6.3Lancaster, PA $173.0 9.3 │ $187.9 16.7 │ $194.4 15.7 │ $191.5 9.3 │ $188.4 5.6 │ $188.4 6.3Harrisburg-Carlisle, PA $148.3 5.5 │ $160.6 12.1 │ $166.4 11.3 │ $166.7 7.3 │ $164.4 4.4 │ $166.1 6.2Virginia Beach-Norfolk-Newport New $203.8 19.7 │ $226.0 26.2 │ $234.8 26.0 │ $218.9 13.5 │ $212.4 6.7 │ $209.8 5.7Ithaca, NY $148.5 7.7 │ $160.2 13.3 │ $159.6 7.0 │ $167.7 4.6 │ $161.5 -1.7 │ $172.2 5.6
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
14
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Ogden-Clearfield, UT $168.5 0.0 │ $189.8 8.4 │ $214.3 18.5 │ $204.1 11.0 │ $189.5 3.3 │ $189.8 5.6Burlington-South Burlington, VT $216.5 20.6 │ $225.0 20.1 │ $230.2 14.8 │ $221.4 5.5 │ $225.9 4.7 │ $226.6 5.4Roanoke, VA $139.9 7.6 │ $150.2 10.8 │ $158.2 11.8 │ $153.5 6.3 │ $156.2 6.1 │ $154.2 5.3Albany-Schenectady-Troy, NY $180.0 9.1 │ $187.5 10.6 │ $196.7 11.5 │ $199.0 6.0 │ $194.4 2.4 │ $198.9 5.0Greeley, CO $175.5 19.0 │ $174.3 17.3 │ $170.4 11.8 │ $156.0 -0.1 │ $159.0 3.9 │ $157.2 5.0Santa Fe, NM $266.8 18.5 │ $293.7 24.8 │ $301.8 21.7 │ $295.0 14.1 │ $283.6 7.0 │ $275.2 4.9Seattle-Bellevue-Everett, WA Metropo $343.1 25.4 │ $392.7 31.9 │ $413.7 26.7 │ $392.7 16.3 │ $354.0 6.0 │ $346.5 4.9Reading, PA $161.2 13.8 │ $175.2 17.2 │ $181.2 16.1 │ $176.6 9.5 │ $171.7 4.3 │ $171.2 4.7Lynchburg, VA $126.9 6.6 │ $140.5 11.4 │ $148.9 14.0 │ $145.2 7.2 │ $147.0 4.9 │ $146.3 4.6Barnstable Town, MA $357.5 41.8 │ $348.7 33.2 │ $335.8 21.5 │ $316.3 9.1 │ $316.9 6.3 │ $308.7 4.3Nassau-Suffolk, NY Metropolitan Div $454.6 36.8 │ $461.1 32.4 │ $459.7 24.2 │ $429.6 10.3 │ $405.9 3.1 │ $411.0 4.1Scranton--Wilkes-Barre, PA $121.2 6.3 │ $132.7 13.3 │ $138.1 12.0 │ $138.6 7.3 │ $138.1 3.6 │ $138.1 4.1Farmington, NM $117.2 15.4 │ $131.2 21.4 │ $135.7 16.8 │ $136.4 8.3 │ $136.9 5.1 │ $133.7 4.0Harrisonburg, VA $165.2 14.7 │ $183.5 20.5 │ $188.0 17.3 │ $178.2 6.9 │ $177.4 3.8 │ $177.0 3.9Poughkeepsie-Newburgh-Middletown $281.7 29.3 │ $291.3 29.4 │ $285.9 20.6 │ $274.5 11.0 │ $257.7 3.1 │ $259.2 3.7La Crosse, WI-MN $125.8 15.3 │ $130.4 16.1 │ $132.3 12.4 │ $130.9 5.4 │ $131.0 3.1 │ $130.5 3.7Kankakee-Bradley, IL $121.6 8.5 │ $127.9 12.7 │ $131.9 8.9 │ $130.5 1.5 │ $127.3 -2.6 │ $131.9 3.7Pittsfield, MA $189.6 9.6 │ $198.4 12.2 │ $204.9 9.9 │ $195.4 0.4 │ $203.8 1.7 │ $205.2 3.5Anchorage, AK $227.9 15.4 │ $243.3 15.9 │ $240.3 13.5 │ $240.2 4.4 │ $235.8 3.9 │ $233.1 3.5Utica-Rome, NY $102.9 -1.2 │ $106.7 0.6 │ $115.3 3.5 │ $119.3 1.1 │ $118.6 -1.2 │ $123.9 3.3Eau Claire, WI $123.4 19.7 │ $122.8 14.4 │ $126.0 11.2 │ $123.5 5.0 │ $123.1 1.9 │ $123.3 3.2Dalton, GA $102.0 1.1 │ $107.2 6.6 │ $107.7 3.4 │ $99.4 -2.9 │ $96.7 -3.2 │ $101.8 3.0Kingsport-Bristol-Bristol, TN-VA $100.9 6.0 │ $109.0 8.8 │ $114.9 9.8 │ $114.7 5.1 │ $111.3 -0.7 │ $114.3 2.8Racine, WI $157.2 20.0 │ $162.1 19.9 │ $161.7 14.1 │ $155.5 6.2 │ $154.2 3.2 │ $152.0 2.7Colorado Springs, CO $193.2 8.2 │ $204.8 11.4 │ $205.6 7.8 │ $194.8 -1.7 │ $195.0 1.2 │ $194.5 2.6Wilmington, DE-MD-NJ Metropolitan $223.7 15.1 │ $242.7 18.6 │ $245.2 16.7 │ $230.7 7.7 │ $228.0 5.7 │ $219.7 2.5State College, PA $155.5 10.6 │ $162.5 10.4 │ $169.5 9.0 │ $169.8 4.0 │ $170.1 0.9 │ $174.0 2.5Baltimore-Towson, MD $276.0 27.3 │ $295.2 30.7 │ $299.0 23.8 │ $278.8 10.3 │ $255.7 -1.9 │ $265.9 2.4Boulder, CO $298.3 9.5 │ $304.5 7.4 │ $311.1 3.9 │ $310.9 -1.4 │ $311.3 0.1 │ $314.4 2.3Kokomo, IN $97.4 10.7 │ $94.8 4.7 │ $92.8 0.6 │ $88.3 0.8 │ $86.4 3.8 │ $87.1 2.2Bismarck, ND $117.0 4.4 │ $127.2 14.3 │ $134.3 11.2 │ $136.8 5.1 │ $140.7 8.4 │ $137.0 2.1Bangor, ME $125.6 16.5 │ $128.9 17.1 │ $132.3 13.6 │ $132.0 6.3 │ $131.5 2.0 │ $130.9 1.9Fond du Lac, WI $128.7 12.9 │ $131.2 13.0 │ $136.8 11.3 │ $133.1 3.8 │ $133.0 1.9 │ $131.2 1.9Blacksburg-Christiansburg-Radford, $121.8 9.5 │ $129.6 9.1 │ $132.9 6.7 │ $130.6 3.5 │ $131.5 3.1 │ $129.8 1.8Binghamton, NY $102.4 0.3 │ $107.3 0.8 │ $116.1 3.3 │ $126.3 5.7 │ $122.7 1.3 │ $124.1 1.7Allentown-Bethlehem-Easton, PA-NJ $198.1 15.5 │ $217.2 21.7 │ $220.8 17.5 │ $208.9 7.7 │ $199.8 1.0 │ $199.1 1.6Albuquerque, NM $164.3 4.0 │ $190.0 14.9 │ $197.0 14.9 │ $192.7 8.9 │ $184.1 2.8 │ $179.5 1.6Michigan City-La Porte, IN $114.3 11.6 │ $120.9 15.7 │ $122.3 13.3 │ $118.9 5.9 │ $117.9 1.7 │ $116.1 1.6Camden, NJ Metropolitan Division $231.1 20.7 │ $243.4 22.8 │ $245.8 19.3 │ $233.8 7.8 │ $222.1 1.1 │ $221.1 1.5Portland-South Portland-Biddeford, M $221.3 29.7 │ $218.9 23.0 │ $220.7 15.9 │ $214.2 7.0 │ $213.5 3.5 │ $207.2 1.4Bremerton-Silverdale, WA $250.8 18.5 │ $286.8 28.1 │ $299.1 24.7 │ $279.0 10.6 │ $256.6 1.8 │ $253.6 1.2Richmond, VA $173.1 10.3 │ $189.8 16.6 │ $199.8 17.5 │ $188.9 8.2 │ $183.0 2.5 │ $179.2 1.2
15
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Rockford, IL $122.0 9.9 │ $126.5 10.3 │ $129.0 6.5 │ $125.8 0.1 │ $122.4 -3.4 │ $124.6 1.1Idaho Falls, ID $122.8 1.4 │ $131.0 6.6 │ $145.2 11.2 │ $142.2 6.0 │ $140.3 2.5 │ $136.3 0.8Edison, NJ Metropolitan Division $351.2 29.5 │ $364.2 27.0 │ $350.4 15.2 │ $337.1 7.2 │ $324.8 2.6 │ $321.6 0.5Billings, MT $143.0 3.4 │ $152.1 6.0 │ $161.6 3.1 │ $165.8 2.0 │ $163.0 -1.1 │ $163.4 0.0Mansfield, OH $106.8 11.0 │ $108.6 12.7 │ $103.8 6.5 │ $100.3 -0.5 │ $96.0 -5.8 │ $100.2 -0.3Kennewick-Richland-Pasco, WA $146.0 10.8 │ $149.1 13.1 │ $151.0 6.6 │ $154.5 2.4 │ $154.2 -0.1 │ $155.3 -0.3Auburn-Opelika, AL $113.9 5.5 │ $122.6 8.4 │ $129.2 8.9 │ $125.8 2.5 │ $123.2 -1.0 │ $122.2 -0.4Newark-Union, NJ-PA Metropolitan D $389.5 25.2 │ $406.1 23.0 │ $402.3 15.1 │ $377.9 4.7 │ $362.8 -0.7 │ $362.7 -0.9Flagstaff, AZ $235.4 35.7 │ $267.0 41.4 │ $267.9 31.1 │ $236.3 11.2 │ $209.5 -2.1 │ $207.6 -1.0Fort Collins-Loveland, CO $219.4 10.1 │ $224.9 7.5 │ $224.3 2.1 │ $218.0 -4.4 │ $217.9 -3.2 │ $219.2 -1.0Elkhart-Goshen, IN $110.6 -7.2 │ $115.6 -5.2 │ $117.0 -4.6 │ $113.8 -2.8 │ $111.4 -2.2 │ $109.9 -1.2Los Angeles-Long Beach-Glendale, C $500.6 52.1 │ $547.5 56.0 │ $514.8 40.0 │ $392.9 3.5 │ $351.4 -6.3 │ $368.0 -1.4San Angelo, TX $76.6 -12.1 │ $84.5 -2.9 │ $94.3 2.9 │ $94.7 -3.4 │ $97.7 -4.2 │ $99.3 -1.4Knoxville, TN $123.4 3.2 │ $132.6 7.0 │ $139.9 8.0 │ $136.0 1.3 │ $133.2 -2.6 │ $133.2 -1.7Wausau, WI $127.1 8.3 │ $127.6 6.1 │ $132.4 4.9 │ $130.8 0.5 │ $130.3 -1.7 │ $128.8 -1.9Lewiston, ID-WA $146.6 19.2 │ $147.7 18.3 │ $150.2 14.4 │ $146.9 5.8 │ $142.1 -0.7 │ $139.8 -2.0Redding, CA $271.7 56.3 │ $271.9 48.9 │ $251.6 33.3 │ $200.9 4.5 │ $178.6 -5.1 │ $182.1 -2.1Denver-Aurora, CO $224.8 7.8 │ $230.4 4.9 │ $228.6 -0.8 │ $221.7 -7.7 │ $227.5 -3.9 │ $229.3 -2.1Lebanon, PA $137.2 3.8 │ $145.3 6.4 │ $151.4 5.5 │ $150.2 -0.1 │ $151.5 -2.4 │ $150.9 -2.2Hagerstown-Martinsburg, MD-WV $203.6 32.7 │ $219.0 38.3 │ $211.9 27.3 │ $190.3 10.8 │ $173.7 -1.6 │ $170.7 -2.2Norwich-New London, CT $248.5 18.7 │ $254.1 17.2 │ $255.5 10.9 │ $245.6 2.3 │ $233.0 -1.8 │ $230.2 -2.2Springfield, MA $208.7 17.0 │ $209.7 14.9 │ $213.3 10.5 │ $203.3 0.3 │ $203.3 -1.7 │ $202.2 -2.2Savannah, GA $135.2 12.7 │ $148.6 17.2 │ $154.5 12.8 │ $144.6 0.6 │ $136.7 -7.3 │ $141.4 -2.2St. Cloud, MN $152.4 21.5 │ $156.9 21.1 │ $152.3 12.0 │ $144.1 0.1 │ $139.7 -2.8 │ $139.1 -2.3Anderson, SC $96.2 0.9 │ $99.3 0.5 │ $106.0 4.5 │ $105.4 0.9 │ $103.9 -4.8 │ $105.2 -2.4Sheboygan, WI $135.1 8.6 │ $141.8 10.7 │ $143.3 6.5 │ $139.2 0.5 │ $140.0 -1.0 │ $137.2 -2.6Philadelphia, PA Metropolitan Divisio $226.4 16.3 │ $238.3 16.1 │ $243.9 11.9 │ $237.4 4.0 │ $231.6 -1.3 │ $227.7 -2.7Madison, WI $197.9 14.8 │ $202.8 12.7 │ $203.5 7.5 │ $198.5 0.5 │ $197.1 -1.3 │ $195.4 -2.8Topeka, KS $100.6 4.9 │ $104.8 9.1 │ $106.9 4.3 │ $106.4 -2.1 │ $106.0 -4.3 │ $107.2 -2.9Champaign-Urbana, IL $119.3 10.0 │ $121.1 10.0 │ $122.9 3.8 │ $121.1 -4.2 │ $119.8 -7.9 │ $123.4 -3.1Erie, PA $104.1 8.0 │ $106.7 7.1 │ $109.8 4.2 │ $109.8 -1.1 │ $110.2 -3.0 │ $109.7 -3.2Lawrence, KS $152.5 4.0 │ $157.5 3.1 │ $159.6 -0.7 │ $157.7 -5.9 │ $154.8 -8.2 │ $159.8 -3.5Youngstown-Warren-Boardman, OH- $97.7 10.1 │ $99.5 9.4 │ $97.4 4.5 │ $93.3 -1.8 │ $93.8 -3.9 │ $92.9 -3.5Pueblo, CO $117.9 8.7 │ $125.2 13.2 │ $125.1 6.7 │ $115.4 -7.7 │ $119.9 -4.5 │ $119.5 -3.5Lima, OH $100.3 6.9 │ $100.4 5.6 │ $102.9 4.7 │ $100.3 -0.2 │ $98.6 -5.3 │ $99.6 -3.6Las Cruces, NM $107.8 2.8 │ $120.4 11.5 │ $126.9 11.0 │ $124.9 3.0 │ $122.5 -2.9 │ $119.0 -3.8Durham, NC $159.3 -3.7 │ $166.9 -3.1 │ $176.7 -2.9 │ $175.9 -5.9 │ $174.7 -6.4 │ $176.3 -4.2Fargo, ND-MN $128.0 6.7 │ $132.4 8.5 │ $134.7 1.9 │ $137.2 -5.8 │ $141.1 -2.6 │ $136.5 -4.3Milwaukee-Waukesha-West Allis, WI $187.2 14.6 │ $192.2 11.9 │ $192.3 6.2 │ $186.2 -1.7 │ $182.8 -3.7 │ $180.5 -4.3Greenville, SC $110.3 -2.4 │ $112.4 -5.3 │ $118.2 -3.6 │ $119.7 -4.9 │ $119.0 -7.7 │ $122.1 -4.3Gulfport-Biloxi, MS $102.1 38.9 │ $122.7 17.3 │ $126.6 8.0 │ $118.6 6.2 │ $116.5 -6.6 │ $117.4 -4.7Chattanooga, TN-GA $113.0 3.1 │ $119.5 4.9 │ $123.9 3.7 │ $119.3 -2.8 │ $116.3 -7.2 │ $117.7 -4.8
16
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Rockingham County-Strafford Count $253.6 23.2 │ $248.0 17.0 │ $245.2 9.0 │ $225.9 -1.4 │ $221.3 -4.7 │ $217.6 -4.8Chico, CA $278.6 56.6 │ $274.4 45.6 │ $253.4 28.1 │ $206.4 -0.1 │ $189.2 -7.7 │ $194.1 -4.8Providence-New Bedford-Fall River, $283.6 34.0 │ $279.1 26.2 │ $265.6 14.5 │ $241.9 0.3 │ $233.3 -6.2 │ $235.5 -4.9Brunswick, GA $116.2 10.7 │ $129.9 18.4 │ $134.4 15.7 │ $126.2 2.7 │ $118.8 -6.8 │ $119.8 -4.9Washington-Arlington-Alexandria, DC $393.9 37.2 │ $402.8 34.7 │ $386.0 23.1 │ $316.9 -2.8 │ $307.1 -8.0 │ $316.4 -5.2Syracuse, NY $111.7 -3.8 │ $115.5 -2.5 │ $119.2 -4.4 │ $122.4 -6.8 │ $120.7 -9.0 │ $125.7 -5.3Buffalo-Niagara Falls, NY $113.2 -2.9 │ $113.4 -4.9 │ $118.2 -5.0 │ $122.7 -6.9 │ $121.8 -8.4 │ $126.0 -5.3Davenport-Moline-Rock Island, IA-IL $101.3 3.5 │ $104.8 5.8 │ $108.0 0.9 │ $106.4 -6.3 │ $105.9 -8.6 │ $107.5 -5.4Fairbanks, AK $183.7 6.4 │ $192.0 2.6 │ $203.1 7.1 │ $197.4 -6.0 │ $194.5 -6.5 │ $195.7 -5.4New Haven-Milford, CT $259.3 17.5 │ $267.8 15.9 │ $268.8 8.6 │ $251.6 -1.5 │ $242.4 -4.9 │ $240.2 -5.5Albany, GA $84.7 -1.3 │ $90.0 5.7 │ $92.3 3.5 │ $90.2 -4.0 │ $85.0 -12.0 │ $90.2 -5.5Burlington, NC $110.0 1.2 │ $111.6 -0.7 │ $113.8 -2.2 │ $111.5 -7.8 │ $113.2 -8.8 │ $115.7 -5.6Huntington-Ashland, WV-KY-OH $81.6 3.3 │ $84.6 2.9 │ $89.9 3.0 │ $89.8 -4.3 │ $91.9 -7.9 │ $92.9 -5.9Winston-Salem, NC $120.7 -2.1 │ $126.3 1.3 │ $127.8 -1.7 │ $124.7 -6.5 │ $126.6 -8.0 │ $127.6 -5.9Mobile, AL $94.9 7.6 │ $111.1 6.1 │ $116.4 7.4 │ $114.2 -0.5 │ $112.9 -5.4 │ $111.8 -6.0Prescott, AZ $219.8 40.7 │ $236.3 42.8 │ $234.2 36.6 │ $197.3 12.5 │ $167.4 -5.2 │ $164.0 -6.0Florence, SC $82.1 -2.7 │ $82.9 -6.7 │ $86.9 -4.0 │ $87.6 -5.0 │ $86.4 -10.1 │ $89.8 -6.1Charlotte-Gastonia-Concord, NC-SC $142.1 -12.1 │ $153.3 -8.7 │ $164.0 -5.2 │ $162.3 -6.4 │ $160.8 -6.6 │ $159.6 -6.1Manchester-Nashua, NH $241.4 25.0 │ $235.6 18.9 │ $231.8 9.7 │ $212.0 -3.1 │ $210.6 -5.2 │ $207.0 -6.1Niles-Benton Harbor, MI $120.8 15.3 │ $124.5 15.9 │ $123.9 7.0 │ $115.3 -5.9 │ $115.6 -9.2 │ $117.4 -6.3Augusta-Richmond County, GA-SC $102.1 -4.2 │ $112.7 4.0 │ $115.9 2.5 │ $114.6 -3.5 │ $108.8 -11.1 │ $113.5 -6.3Columbia, SC $110.1 -3.0 │ $114.2 -3.9 │ $120.1 -1.4 │ $119.5 -4.3 │ $118.5 -8.4 │ $120.3 -6.3Spartanburg, SC $95.4 -2.1 │ $95.6 -5.0 │ $100.3 -3.3 │ $101.8 -5.1 │ $100.1 -8.8 │ $101.8 -6.4Nashville-Davidson--Murfreesboro, T $152.6 -4.5 │ $167.5 0.4 │ $176.2 1.8 │ $170.9 -3.6 │ $166.0 -7.5 │ $165.5 -6.5Bloomington, IN $114.2 1.8 │ $121.3 3.7 │ $121.6 -0.3 │ $123.1 -3.5 │ $121.4 -8.5 │ $121.0 -6.6Green Bay, WI $140.1 10.8 │ $140.5 8.6 │ $141.5 4.6 │ $137.6 -2.2 │ $136.3 -5.8 │ $134.1 -6.7Iowa City, IA $145.3 3.1 │ $149.6 3.9 │ $150.7 -3.6 │ $149.3 -10.2 │ $148.6 -10.0 │ $152.4 -6.9Santa Ana-Anaheim-Irvine, CA Metro $611.6 33.8 │ $635.9 30.8 │ $579.7 15.5 │ $485.0 -5.5 │ $454.7 -10.2 │ $469.3 -6.9Greensboro-High Point, NC $118.4 -3.5 │ $122.6 -2.4 │ $124.3 -4.3 │ $123.8 -7.0 │ $123.4 -7.9 │ $123.3 -6.9Austin-Round Rock, TX $147.2 -12.0 │ $160.6 -7.9 │ $175.2 -3.9 │ $179.4 -5.4 │ $176.3 -8.2 │ $177.4 -6.9New York-Wayne-White Plains, NY-N $487.5 23.5 │ $508.1 20.1 │ $510.6 11.3 │ $484.6 0.9 │ $463.9 -4.7 │ $456.6 -7.1Sherman-Denison, TX $85.0 -1.0 │ $86.0 -2.2 │ $86.5 -6.6 │ $90.5 -6.5 │ $88.0 -11.5 │ $92.4 -7.1Gary, IN Metropolitan Division $124.4 1.3 │ $132.5 4.0 │ $134.5 1.6 │ $130.1 -3.1 │ $127.7 -6.2 │ $126.4 -7.2Springfield, OH $107.3 10.5 │ $104.6 5.6 │ $107.7 6.1 │ $101.4 -3.9 │ $99.8 -9.4 │ $100.7 -7.4Peoria, IL $108.7 0.4 │ $112.2 -0.6 │ $114.7 -4.9 │ $114.4 -11.0 │ $113.2 -13.1 │ $116.9 -7.5Raleigh-Cary, NC $166.3 -7.6 │ $177.6 -5.8 │ $188.8 -5.4 │ $190.1 -6.1 │ $185.4 -9.2 │ $186.4 -7.6Hartford-West Hartford-East Hartford $237.8 9.1 │ $243.0 6.2 │ $245.8 -1.0 │ $237.8 -6.9 │ $231.6 -8.7 │ $231.1 -7.7Detroit-Livonia-Dearborn, MI Metropo $115.3 33.0 │ $110.2 33.8 │ $97.6 17.5 │ $80.5 -1.6 │ $76.3 -7.9 │ $74.4 -7.8Parkersburg-Marietta, WV-OH $87.3 3.5 │ $90.7 3.7 │ $92.0 -1.0 │ $93.8 -5.7 │ $95.0 -9.9 │ $97.0 -8.1Minneapolis-St. Paul-Bloomington, M $221.7 22.5 │ $222.8 20.5 │ $215.8 10.0 │ $196.2 -3.8 │ $183.3 -9.5 │ $183.8 -8.2Amarillo, TX $87.7 -3.7 │ $92.7 0.9 │ $95.8 -2.6 │ $95.7 -9.0 │ $96.3 -11.1 │ $98.4 -8.5St. Louis, MO-IL $138.4 11.4 │ $143.2 12.8 │ $144.0 6.5 │ $138.5 -3.8 │ $136.8 -8.7 │ $135.3 -8.6
17
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Panama City-Lynn Haven, FL $172.5 37.4 │ $175.9 33.5 │ $165.8 21.8 │ $144.7 3.0 │ $129.0 -9.4 │ $129.0 -8.6Joplin, MO $87.5 1.2 │ $91.6 4.3 │ $92.7 0.3 │ $90.6 -7.3 │ $90.6 -12.2 │ $93.0 -8.6Toledo, OH $116.5 13.0 │ $115.8 9.6 │ $113.0 3.2 │ $105.6 -5.1 │ $101.9 -10.2 │ $102.8 -8.7Louisville, KY-IN $124.7 2.1 │ $128.3 -0.3 │ $129.6 -3.9 │ $130.1 -5.7 │ $128.2 -9.5 │ $128.4 -8.9Appleton, WI $134.0 4.3 │ $136.2 2.9 │ $137.6 -1.9 │ $134.7 -6.9 │ $134.5 -8.9 │ $133.5 -9.1Rome, GA $102.5 5.6 │ $103.6 6.1 │ $104.9 2.6 │ $100.7 -6.4 │ $94.9 -15.5 │ $100.5 -9.1Cedar Rapids, IA $110.9 1.2 │ $114.6 3.4 │ $116.3 -3.5 │ $114.3 -11.2 │ $112.5 -13.4 │ $116.3 -9.2San Luis Obispo-Paso Robles, CA $510.9 54.8 │ $487.3 37.4 │ $448.8 20.9 │ $371.5 -3.3 │ $331.2 -12.5 │ $341.3 -9.3Jefferson City, MO $108.9 -0.9 │ $113.7 3.3 │ $115.8 0.1 │ $113.1 -6.9 │ $113.3 -10.7 │ $113.5 -9.4Trenton-Ewing, NJ $282.4 21.3 │ $290.2 17.1 │ $282.5 6.5 │ $268.1 -4.5 │ $258.0 -10.4 │ $260.0 -9.5Rochester, MN $145.4 6.3 │ $145.9 2.9 │ $144.4 -3.1 │ $137.9 -10.9 │ $137.1 -10.8 │ $138.1 -9.7Lexington-Fayette, KY $134.4 1.2 │ $140.8 0.1 │ $141.1 -5.0 │ $142.7 -6.2 │ $139.9 -10.1 │ $139.8 -9.7Sioux Falls, SD $119.4 -1.6 │ $121.4 -0.2 │ $125.9 -5.8 │ $127.7 -9.0 │ $128.3 -8.7 │ $126.0 -9.9Bethesda-Frederick-Gaithersburg, M $447.1 32.0 │ $460.2 29.5 │ $448.8 17.0 │ $399.3 -1.4 │ $376.9 -11.1 │ $380.9 -10.0Springfield, IL $104.9 -3.6 │ $106.0 -2.6 │ $107.4 -6.9 │ $106.7 -13.2 │ $105.5 -15.7 │ $110.0 -10.1Chicago-Naperville-Joliet, IL Metropo $245.9 14.4 │ $257.5 15.0 │ $256.7 6.5 │ $238.7 -5.0 │ $218.2 -13.2 │ $222.8 -10.2San Jose-Sunnyvale-Santa Clara, CA $716.1 42.4 │ $723.5 32.5 │ $686.3 16.7 │ $561.1 -4.9 │ $491.4 -14.0 │ $507.0 -10.2Des Moines, IA $125.7 -1.5 │ $129.1 0.5 │ $131.4 -3.7 │ $127.9 -9.5 │ $126.1 -11.1 │ $127.7 -10.3Rocky Mount, NC $90.0 -6.4 │ $92.1 -5.3 │ $92.6 -8.1 │ $93.5 -10.4 │ $90.8 -16.2 │ $95.9 -10.3St. Joseph, MO-KS $93.9 6.4 │ $97.8 6.5 │ $100.7 2.4 │ $95.4 -7.7 │ $97.8 -10.9 │ $98.7 -10.3Santa Cruz-Watsonville, CA $669.4 50.4 │ $658.0 35.0 │ $619.9 20.2 │ $504.8 -3.6 │ $449.5 -12.5 │ $457.1 -10.5Athens-Clarke County, GA $131.6 4.2 │ $138.1 4.8 │ $141.5 0.2 │ $135.2 -9.4 │ $129.2 -15.5 │ $135.3 -10.5Worcester, MA $253.1 25.9 │ $245.9 17.4 │ $236.4 5.8 │ $218.9 -5.7 │ $215.6 -9.7 │ $213.0 -10.5Lincoln, NE $124.9 0.4 │ $128.5 3.0 │ $127.6 -5.1 │ $123.6 -12.0 │ $124.3 -11.7 │ $125.1 -10.6Essex County, MA Metropolitan Divis $350.8 25.7 │ $340.3 15.1 │ $325.8 3.1 │ $307.5 -7.4 │ $306.2 -10.1 │ $302.3 -10.7Tallahassee, FL $154.0 17.6 │ $164.2 18.7 │ $161.6 9.2 │ $148.2 -2.6 │ $133.7 -12.9 │ $135.2 -11.1Decatur, IL $82.0 -5.7 │ $85.1 -2.2 │ $85.3 -9.3 │ $85.2 -14.8 │ $84.9 -16.7 │ $87.9 -11.2Madera, CA $301.9 66.5 │ $315.0 71.8 │ $288.1 48.8 │ $194.2 -1.1 │ $170.0 -12.3 │ $170.1 -11.3Bay City, MI $102.6 23.6 │ $99.9 19.6 │ $94.6 8.7 │ $85.4 -6.9 │ $82.3 -14.7 │ $83.3 -11.3Bloomington-Normal, IL $130.2 -1.7 │ $133.0 -2.9 │ $135.0 -5.2 │ $133.3 -12.1 │ $131.3 -15.9 │ $135.9 -11.4Decatur, AL $91.8 -6.2 │ $95.4 -5.4 │ $99.2 -5.6 │ $100.4 -8.1 │ $99.5 -11.5 │ $98.8 -11.4Kansas City, MO-KS $134.9 5.7 │ $137.4 4.6 │ $138.8 0.1 │ $132.5 -8.6 │ $131.1 -12.3 │ $130.4 -11.4Miami-Miami Beach-Kendall, FL Metr $262.0 41.7 │ $301.0 48.9 │ $312.6 46.8 │ $227.7 4.6 │ $182.9 -15.9 │ $191.2 -11.4Jackson, MI $120.2 21.9 │ $118.1 20.9 │ $109.1 6.7 │ $95.0 -9.4 │ $94.5 -13.0 │ $94.5 -11.5Columbia, MO $125.6 -0.1 │ $130.4 1.0 │ $131.4 -2.7 │ $129.5 -7.1 │ $126.9 -12.9 │ $127.0 -11.5Canton-Massillon, OH $117.5 9.0 │ $117.6 8.0 │ $114.9 1.2 │ $110.5 -7.1 │ $108.7 -11.8 │ $108.1 -11.7Saginaw-Saginaw Township North, M $101.1 17.4 │ $97.8 13.3 │ $91.2 2.3 │ $81.5 -10.8 │ $80.6 -14.6 │ $81.7 -11.9Dayton, OH $119.2 2.5 │ $120.1 0.3 │ $119.1 -3.1 │ $115.8 -7.4 │ $111.6 -13.3 │ $112.9 -11.9Waco, TX $85.5 -8.4 │ $90.3 -4.5 │ $92.6 -7.1 │ $93.2 -11.7 │ $94.5 -13.0 │ $94.9 -12.0Abilene, TX $69.5 -9.2 │ $76.1 -3.1 │ $80.0 -6.6 │ $80.5 -11.7 │ $81.7 -14.1 │ $82.7 -12.3Anderson, IN $92.9 5.5 │ $87.2 -3.6 │ $87.3 -4.5 │ $87.3 -6.1 │ $87.4 -9.6 │ $83.7 -12.4Pittsburgh, PA $105.5 -2.4 │ $108.6 -4.7 │ $111.8 -7.7 │ $113.3 -11.3 │ $114.1 -14.4 │ $115.9 -12.5
18
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Springfield, MO $110.2 -3.9 │ $117.2 0.3 │ $119.2 -2.8 │ $115.4 -8.3 │ $114.5 -12.7 │ $113.3 -12.6Sandusky, OH $129.5 7.0 │ $124.7 1.8 │ $129.8 3.5 │ $117.6 -9.4 │ $119.8 -12.5 │ $120.1 -12.6Casper, WY $134.0 11.0 │ $149.0 5.5 │ $164.4 3.7 │ $162.9 -8.5 │ $156.5 -11.0 │ $153.2 -12.7Rochester, NY $117.0 -8.2 │ $116.1 -10.5 │ $118.5 -12.4 │ $121.8 -14.5 │ $120.9 -16.2 │ $125.1 -13.0Columbus, IN $112.0 -0.8 │ $117.1 -3.0 │ $119.2 -5.4 │ $117.6 -11.9 │ $117.3 -13.6 │ $117.1 -13.2Lubbock, TX $81.0 -8.5 │ $84.9 -5.1 │ $86.3 -7.9 │ $87.4 -11.6 │ $87.7 -14.8 │ $88.8 -13.3Gainesville, GA $140.7 -1.2 │ $147.9 1.8 │ $150.5 -2.1 │ $143.8 -9.5 │ $129.8 -19.1 │ $137.7 -13.3Fort Wayne, IN $98.3 -4.2 │ $100.4 -5.4 │ $100.4 -8.2 │ $97.9 -11.7 │ $96.4 -14.9 │ $96.1 -13.4Gainesville, FL $155.2 18.4 │ $166.4 17.9 │ $170.1 12.6 │ $146.9 -5.9 │ $131.6 -16.2 │ $134.5 -13.4Beaumont-Port Arthur, TX $70.2 -12.3 │ $76.5 -9.9 │ $83.1 -7.8 │ $83.8 -13.2 │ $84.5 -15.1 │ $85.6 -13.5Ames, IA $134.1 0.8 │ $134.2 -3.5 │ $138.0 -8.2 │ $134.6 -15.1 │ $134.3 -16.0 │ $136.4 -13.5Bowling Green, KY $107.6 -1.5 │ $110.2 -2.9 │ $111.8 -6.4 │ $111.5 -12.2 │ $111.5 -14.2 │ $111.4 -13.5Oshkosh-Neenah, WI $122.4 4.9 │ $124.8 1.8 │ $126.2 -3.1 │ $124.1 -9.2 │ $124.0 -12.6 │ $122.7 -13.7Deltona-Daytona Beach-Ormond Bea $176.9 37.9 │ $195.0 44.8 │ $179.7 28.8 │ $138.1 -2.7 │ $118.2 -17.3 │ $121.7 -13.8Lake County-Kenosha County, IL-WI $252.0 3.7 │ $260.9 4.3 │ $261.2 -2.7 │ $249.2 -10.2 │ $234.1 -16.1 │ $233.8 -13.9South Bend-Mishawaka, IN-MI $102.3 -5.9 │ $106.0 -5.6 │ $107.0 -7.9 │ $105.5 -11.0 │ $104.1 -15.1 │ $103.3 -14.1Greenville, NC $94.6 -5.2 │ $98.7 -4.1 │ $102.2 -6.8 │ $100.6 -11.0 │ $100.0 -14.0 │ $98.9 -14.2Oxnard-Thousand Oaks-Ventura, CA $562.7 50.2 │ $566.8 41.9 │ $509.8 21.6 │ $370.9 -12.1 │ $335.7 -18.7 │ $350.1 -14.3Atlanta-Sandy Springs-Marietta, GA $170.9 -2.4 │ $176.5 -1.7 │ $177.1 -6.2 │ $166.8 -12.2 │ $150.5 -20.5 │ $159.2 -14.5Hattiesburg, MS $84.6 1.3 │ $94.8 -5.5 │ $99.2 -4.7 │ $96.0 -11.1 │ $94.6 -16.7 │ $95.1 -14.5Jacksonville, FL $173.3 20.2 │ $188.2 20.2 │ $186.4 13.0 │ $159.3 -5.2 │ $141.0 -16.5 │ $141.9 -14.7Macon, GA $97.5 -4.1 │ $102.0 -0.7 │ $103.0 -3.5 │ $100.3 -11.4 │ $94.8 -18.2 │ $97.4 -14.8Cleveland-Elyria-Mentor, OH $142.0 5.2 │ $141.9 2.4 │ $137.3 -5.0 │ $127.8 -14.1 │ $122.8 -19.1 │ $127.7 -14.8Longview, TX $81.2 -12.0 │ $89.0 -8.6 │ $96.1 -8.6 │ $99.1 -13.6 │ $99.8 -15.7 │ $99.8 -14.9Tucson, AZ $186.7 26.4 │ $201.9 27.9 │ $200.3 21.1 │ $169.9 -1.5 │ $148.9 -15.1 │ $148.2 -15.0Lafayette, IN $111.5 -5.8 │ $115.4 -4.8 │ $114.7 -9.4 │ $111.8 -15.9 │ $112.5 -17.9 │ $112.8 -15.1Yuba City, CA $276.4 65.4 │ $269.3 57.5 │ $228.7 30.7 │ $155.9 -12.3 │ $139.9 -19.1 │ $146.1 -15.3Huntsville, AL $116.0 -10.8 │ $126.7 -6.9 │ $133.1 -7.8 │ $132.9 -13.3 │ $132.7 -16.4 │ $132.8 -15.3Monroe, MI $156.5 22.9 │ $152.9 19.8 │ $135.3 2.7 │ $118.1 -9.6 │ $113.3 -15.5 │ $112.1 -15.3Tyler, TX $98.9 -12.1 │ $105.1 -7.3 │ $110.2 -7.2 │ $106.9 -16.0 │ $109.7 -16.8 │ $110.0 -15.3Napa, CA $567.9 62.1 │ $537.6 44.6 │ $501.2 25.1 │ $379.7 -8.9 │ $330.3 -18.2 │ $340.1 -15.5Corpus Christi, TX $89.1 -11.5 │ $94.6 -9.5 │ $100.0 -10.3 │ $98.0 -18.0 │ $99.8 -18.9 │ $102.9 -15.5Battle Creek, MI $99.7 16.4 │ $101.1 18.8 │ $94.7 6.4 │ $88.4 -6.1 │ $85.8 -12.0 │ $81.9 -15.6San Antonio, TX $96.9 -15.0 │ $105.2 -10.4 │ $113.3 -8.6 │ $113.2 -13.3 │ $113.4 -16.4 │ $113.8 -15.6Birmingham-Hoover, AL $117.0 -7.2 │ $125.2 -3.6 │ $127.0 -7.0 │ $124.7 -11.2 │ $123.9 -14.6 │ $121.1 -15.7College Station-Bryan, TX $95.1 -15.6 │ $101.4 -13.9 │ $106.0 -14.5 │ $110.6 -16.4 │ $110.6 -16.6 │ $110.9 -16.1Flint, MI $109.9 29.4 │ $105.9 24.5 │ $95.4 9.7 │ $80.7 -8.0 │ $76.5 -15.5 │ $74.0 -16.1New Orleans-Metairie-Kenner, LA $134.5 -440.2 │ $154.4 1.2 │ $157.6 -9.1 │ $151.0 -11.2 │ $149.1 -14.7 │ $146.6 -16.3Cheyenne, WY $147.7 0.3 │ $155.2 -4.1 │ $159.1 -8.1 │ $159.1 -14.8 │ $154.9 -15.8 │ $153.1 -16.3Boston-Quincy, MA Metropolitan Div $362.2 15.6 │ $352.6 7.0 │ $338.8 -4.4 │ $321.4 -13.7 │ $320.0 -15.6 │ $316.1 -16.3Omaha-Council Bluffs, NE-IA $121.2 -4.6 │ $124.4 -2.5 │ $124.8 -9.8 │ $118.9 -18.0 │ $121.7 -15.9 │ $122.1 -16.5Pensacola-Ferry Pass-Brent, FL $156.5 28.1 │ $156.5 19.2 │ $148.1 7.0 │ $127.0 -11.1 │ $115.4 -20.1 │ $119.2 -16.5
19
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Owensboro, KY $87.3 -4.4 │ $87.0 -7.3 │ $89.4 -9.4 │ $89.8 -13.9 │ $89.5 -18.7 │ $91.6 -16.6Wichita, KS $94.3 -9.0 │ $99.4 -10.3 │ $101.7 -12.9 │ $102.2 -18.5 │ $104.8 -18.8 │ $106.8 -16.6Baton Rouge, LA $108.2 -2.0 │ $122.6 -2.5 │ $130.7 -5.1 │ $128.9 -11.2 │ $128.6 -16.1 │ $128.0 -16.6Fort Smith, AR-OK $78.4 -8.9 │ $83.1 -6.1 │ $86.5 -6.7 │ $84.9 -12.9 │ $84.4 -16.5 │ $83.8 -16.7Tampa-St. Petersburg-Clearwater, FL $174.8 26.7 │ $189.1 29.6 │ $175.6 15.4 │ $144.0 -7.0 │ $127.2 -17.8 │ $127.1 -16.7Santa Rosa-Petaluma, CA $555.4 60.3 │ $525.9 40.9 │ $469.6 19.4 │ $356.8 -11.6 │ $319.3 -19.1 │ $326.9 -16.8Evansville, IN-KY $94.7 -5.7 │ $98.5 -4.5 │ $99.0 -5.8 │ $96.5 -12.4 │ $94.8 -16.9 │ $94.4 -16.8Columbus, OH $146.4 -0.3 │ $148.6 -1.3 │ $147.1 -6.7 │ $141.8 -13.3 │ $138.5 -18.1 │ $139.7 -16.8Fresno, CA $257.9 59.5 │ $268.6 61.0 │ $241.3 38.4 │ $168.3 -6.5 │ $146.3 -18.1 │ $146.6 -16.8Riverside-San Bernardino-Ontario, C $334.1 58.7 │ $353.1 62.2 │ $326.5 46.9 │ $212.2 -4.8 │ $174.5 -19.6 │ $178.3 -16.9Ann Arbor, MI $214.0 21.0 │ $205.4 15.1 │ $182.5 -3.1 │ $162.8 -14.2 │ $159.2 -17.7 │ $158.6 -16.9Fort Walton Beach-Crestview-Destin, $209.7 37.3 │ $215.0 31.8 │ $193.2 12.7 │ $159.1 -10.3 │ $144.7 -19.4 │ $147.2 -17.1Kalamazoo-Portage, MI $125.0 11.6 │ $123.2 8.1 │ $120.0 -1.1 │ $109.6 -14.8 │ $109.7 -18.1 │ $109.4 -17.1Orlando, FL $196.4 24.5 │ $219.1 31.1 │ $212.4 22.6 │ $167.6 -4.4 │ $142.8 -17.3 │ $141.2 -17.1San Diego-Carlsbad-San Marcos, CA $508.7 42.1 │ $481.6 28.5 │ $454.4 15.2 │ $353.0 -14.6 │ $329.2 -19.9 │ $336.9 -17.3Cambridge-Newton-Framingham, MA $398.2 14.4 │ $382.3 4.2 │ $372.2 -5.8 │ $357.7 -14.2 │ $357.2 -16.2 │ $355.0 -17.4Ocala, FL $129.7 21.3 │ $148.1 28.0 │ $144.3 19.2 │ $117.6 -3.6 │ $101.6 -16.6 │ $98.6 -17.5Lakeland, FL $125.5 15.2 │ $142.4 24.9 │ $142.3 19.7 │ $118.4 -2.0 │ $101.1 -16.2 │ $98.1 -17.5Holland-Grand Haven, MI $155.1 10.8 │ $151.1 5.7 │ $143.8 -4.0 │ $132.2 -15.4 │ $129.2 -18.8 │ $128.1 -17.7San Francisco-San Mateo-Redwood C $807.8 33.5 │ $808.6 22.4 │ $771.5 7.6 │ $644.0 -14.1 │ $581.3 -21.2 │ $603.1 -17.8Phoenix-Mesa-Scottsdale, AZ $235.9 36.0 │ $255.3 38.5 │ $247.9 31.3 │ $192.8 2.4 │ $151.4 -18.8 │ $150.7 -18.0Muskegon-Norton Shores, MI $100.4 11.7 │ $98.2 9.2 │ $92.6 -0.7 │ $86.8 -11.4 │ $83.3 -18.2 │ $82.0 -18.1Warner Robins, GA $100.0 -8.6 │ $105.4 -6.0 │ $107.3 -7.8 │ $102.4 -15.1 │ $96.4 -22.9 │ $100.3 -18.2Columbus, GA-AL $107.5 -5.3 │ $115.0 -2.5 │ $119.1 -5.9 │ $114.3 -14.8 │ $109.5 -21.6 │ $112.9 -18.3Bridgeport-Stamford-Norwalk, CT $465.5 9.3 │ $476.0 2.5 │ $471.9 -7.3 │ $446.4 -13.9 │ $422.8 -18.0 │ $419.2 -18.3Cincinnati-Middletown, OH-KY-IN $136.9 -3.2 │ $140.4 -3.1 │ $140.0 -7.8 │ $134.4 -14.6 │ $131.3 -19.0 │ $131.0 -18.4Hanford-Corcoran, CA $213.3 39.4 │ $222.9 39.0 │ $209.9 24.1 │ $157.4 -12.2 │ $137.8 -22.6 │ $144.2 -18.4Akron, OH $131.6 0.9 │ $131.5 -2.0 │ $130.0 -6.9 │ $123.6 -14.4 │ $120.6 -19.7 │ $120.7 -18.6Sacramento--Arden-Arcade--Rosevill $393.8 57.5 │ $369.0 41.9 │ $321.2 19.2 │ $235.7 -14.6 │ $215.2 -20.5 │ $218.5 -18.7Indianapolis, IN $132.7 -8.9 │ $136.2 -9.6 │ $136.4 -11.9 │ $132.8 -16.6 │ $130.2 -19.2 │ $129.8 -18.7Montgomery, AL $101.6 -9.3 │ $109.5 -5.6 │ $113.0 -6.4 │ $109.5 -14.0 │ $108.2 -18.2 │ $105.9 -19.0Bakersfield, CA $218.7 51.0 │ $236.5 59.9 │ $217.0 40.3 │ $142.4 -10.3 │ $125.6 -20.1 │ $126.0 -19.2El Paso, TX $86.9 -20.5 │ $102.4 -9.9 │ $110.2 -8.3 │ $109.0 -14.9 │ $107.5 -19.2 │ $106.3 -19.5Visalia-Porterville, CA $213.6 44.9 │ $227.7 52.6 │ $205.3 29.4 │ $150.3 -8.4 │ $131.0 -19.2 │ $129.0 -19.6Odessa, TX $54.7 -17.7 │ $66.3 -10.3 │ $78.0 -6.9 │ $84.2 -13.2 │ $83.1 -19.1 │ $80.7 -19.9Alexandria, LA $82.1 -9.2 │ $89.8 -2.2 │ $93.2 -7.2 │ $93.9 -12.4 │ $93.2 -19.1 │ $92.8 -20.0Santa Barbara-Santa Maria-Goleta, C $661.3 64.5 │ $640.5 46.1 │ $538.4 14.5 │ $410.3 -16.5 │ $377.5 -22.4 │ $385.7 -20.2Lansing-East Lansing, MI $133.8 17.2 │ $131.0 12.2 │ $121.7 -0.7 │ $108.9 -14.7 │ $102.4 -23.0 │ $103.8 -20.2Wichita Falls, TX $71.9 -11.6 │ $77.9 -11.1 │ $81.0 -13.6 │ $78.9 -22.1 │ $79.7 -24.5 │ $83.3 -20.6Fayetteville-Springdale-Rogers, AR-M $126.2 3.5 │ $134.5 4.7 │ $133.2 -2.0 │ $124.7 -11.9 │ $119.0 -18.7 │ $114.8 -21.5Little Rock-North Little Rock, AR $103.7 -7.1 │ $108.4 -8.0 │ $111.4 -13.1 │ $108.2 -18.4 │ $106.7 -22.8 │ $106.9 -21.6Memphis, TN-MS-AR $106.6 -9.9 │ $109.9 -9.4 │ $112.1 -11.2 │ $106.8 -16.9 │ $104.3 -21.6 │ $103.3 -21.7
20
House Prices in America: 3rd Quarter 2009 Update
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
Price (,000)
Over-Valuation
2009Q2 2009Q32005Q3 2006Q3 2007Q3 2008Q3
Oakland-Fremont-Hayward, CA Metro $609.8 52.9 │ $582.4 36.9 │ $531.0 18.5 │ $372.7 -18.3 │ $335.5 -25.2 │ $349.8 -21.7Charleston, WV $84.8 -6.9 │ $86.0 -10.0 │ $91.0 -11.7 │ $90.3 -19.0 │ $92.8 -21.4 │ $91.7 -21.8Carson City, NV $290.3 40.6 │ $291.1 39.7 │ $262.8 21.3 │ $217.3 -3.2 │ $175.6 -21.5 │ $174.1 -22.0Grand Rapids-Wyoming, MI $131.0 7.4 │ $128.3 4.1 │ $120.0 -6.7 │ $109.0 -18.3 │ $106.2 -22.7 │ $105.3 -22.1Monroe, LA $87.4 -4.3 │ $91.0 -10.1 │ $94.8 -14.1 │ $95.5 -16.6 │ $93.9 -23.5 │ $96.3 -22.3Jackson, MS $100.0 -11.7 │ $104.8 -14.3 │ $106.4 -16.3 │ $102.4 -22.0 │ $102.9 -25.2 │ $104.2 -23.9Oklahoma City, OK $97.5 -12.0 │ $102.5 -14.7 │ $106.9 -18.0 │ $106.9 -23.9 │ $107.6 -25.7 │ $108.1 -24.2Salinas, CA $627.2 77.4 │ $620.5 62.9 │ $524.6 29.3 │ $335.1 -20.1 │ $305.6 -25.9 │ $310.2 -24.3Fort Lauderdale-Pompano Beach-De $248.4 37.4 │ $271.0 44.3 │ $248.6 27.7 │ $177.5 -10.3 │ $147.7 -25.4 │ $148.0 -24.3Fayetteville, NC $98.6 -16.9 │ $105.8 -14.4 │ $112.2 -15.8 │ $112.8 -22.2 │ $111.8 -26.8 │ $113.8 -24.4Palm Bay-Melbourne-Titusville, FL $204.6 43.6 │ $208.7 39.0 │ $182.0 17.2 │ $137.1 -13.6 │ $121.4 -23.5 │ $118.4 -24.4Tulsa, OK $94.6 -13.7 │ $98.6 -17.3 │ $104.5 -19.5 │ $105.6 -24.4 │ $105.7 -27.0 │ $107.3 -24.6McAllen-Edinburg-Pharr, TX $56.0 -16.0 │ $59.4 -12.1 │ $63.1 -12.8 │ $63.6 -19.5 │ $60.9 -27.0 │ $61.8 -25.9Reno-Sparks, NV $314.7 38.8 │ $317.9 39.2 │ $284.5 19.7 │ $227.2 -6.0 │ $174.2 -26.0 │ $169.7 -26.5Shreveport-Bossier City, LA $94.1 -6.2 │ $100.5 -10.9 │ $103.5 -16.3 │ $102.7 -21.4 │ $102.9 -26.3 │ $102.7 -26.5Fort Worth-Arlington, TX Metropolita $105.5 -19.6 │ $109.0 -20.7 │ $113.0 -22.4 │ $113.1 -25.7 │ $113.8 -27.6 │ $113.3 -27.3Dallas-Plano-Irving, TX Metropolitan $126.1 -21.7 │ $130.7 -22.0 │ $135.0 -24.1 │ $136.9 -26.2 │ $133.9 -29.1 │ $136.7 -27.5Punta Gorda, FL $201.7 52.2 │ $209.0 44.9 │ $176.3 16.3 │ $127.9 -16.8 │ $113.5 -26.6 │ $110.4 -27.8Sarasota-Bradenton-Venice, FL $237.1 41.1 │ $246.4 37.5 │ $215.2 14.6 │ $155.3 -18.0 │ $137.4 -27.6 │ $133.9 -28.0Houston-Baytown-Sugar Land, TX $108.7 -22.9 │ $116.1 -23.4 │ $121.4 -26.6 │ $126.3 -28.6 │ $125.1 -31.3 │ $128.2 -28.8Killeen-Temple-Fort Hood, TX $95.7 -16.2 │ $98.1 -19.9 │ $106.0 -21.2 │ $107.1 -26.9 │ $106.4 -29.8 │ $106.7 -28.8Naples-Marco Island, FL $353.1 45.5 │ $391.4 44.8 │ $341.6 19.3 │ $231.1 -20.3 │ $197.3 -31.5 │ $199.9 -29.0Lake Charles, LA $85.5 376.7 │ $96.2 -11.0 │ $102.3 -17.2 │ $101.7 -23.0 │ $102.4 -27.5 │ $101.6 -29.4Lafayette, LA $109.7 -6.6 │ $121.6 -12.8 │ $127.0 -18.3 │ $125.8 -24.2 │ $127.3 -28.7 │ $126.7 -29.4West Palm Beach-Boca Raton-Boynt $274.5 39.5 │ $292.0 37.2 │ $262.2 15.0 │ $189.5 -20.1 │ $163.6 -31.8 │ $164.4 -30.3Midland, TX $88.4 -25.8 │ $107.8 -21.5 │ $126.4 -18.5 │ $129.2 -29.6 │ $130.4 -33.1 │ $133.1 -30.7Modesto, CA $326.8 68.4 │ $322.5 63.5 │ $276.3 35.1 │ $159.7 -23.0 │ $138.7 -32.2 │ $138.7 -31.8Stockton, CA $350.1 73.4 │ $344.0 65.5 │ $291.0 35.5 │ $162.3 -25.4 │ $145.1 -32.4 │ $145.1 -31.8Vallejo-Fairfield, CA $419.9 60.9 │ $411.5 50.9 │ $362.1 26.3 │ $225.9 -23.3 │ $193.5 -33.7 │ $196.9 -31.9Warren-Farmington Hills-Troy, MI Me $189.0 12.8 │ $179.7 8.8 │ $162.0 -6.0 │ $137.1 -21.8 │ $119.7 -32.5 │ $117.5 -32.3Port St. Lucie-Fort Pierce, FL $233.8 51.4 │ $236.5 44.0 │ $207.4 19.7 │ $139.5 -20.2 │ $120.4 -31.5 │ $115.6 -33.3Houma-Bayou Cane-Thibodaux, LA $92.9 24.1 │ $104.1 -15.6 │ $111.0 -22.5 │ $115.5 -28.4 │ $115.1 -34.9 │ $116.2 -34.6Cape Coral-Fort Myers, FL $225.5 27.9 │ $241.6 25.7 │ $206.8 4.9 │ $138.1 -28.7 │ $119.8 -37.2 │ $118.7 -36.8Merced, CA $291.6 85.3 │ $297.9 88.0 │ $242.3 42.5 │ $124.5 -27.6 │ $104.3 -37.7 │ $102.3 -37.7Vero Beach, FL $206.9 29.8 │ $205.0 13.6 │ $181.7 -8.4 │ $140.2 -32.5 │ $125.0 -40.6 │ $123.3 -39.8Las Vegas-Paradise, NV $274.8 27.9 │ $294.9 33.3 │ $274.1 19.8 │ $185.5 -19.9 │ $136.5 -39.3 │ $129.7 -41.4 21
