The Case Shiller Report that was released today got me to thinking. The report was ablaze with how the sky is falling and the major media, and myself, jumped right through the hoop.
It did get me to thinking. So I dug into the report and started looking at historical data. I wanted to see how affected markets were. Instead of looking a year out, I wanted to see when the markets were this low before.
Of the cities that I could find, Cleveland’s home prices dropped the most, hitting their February, 2002 levels. Seattle has lost the least with homebuyers in June of 2006 still being on the plus side.
Remember, these are the aggregate numbers, so personal experiences can be different.
City March-08 Last Time This Low Atlanta 124.61 March, 2005 Boston 158.54 August, 2004 Chicago 150.35 January, 2005 Cleveland 106.42 February, 2002 Denver 127.43 February, 2004 Las Vegas 169.31 April, 2004 Los Angeles 207.11 June, 2004 Miami 208.88 January, 2005 Minneapolis 142.24 June, 2003 New York 196.58 June, 2005 Phoenix 166.97 March, 2005 Portland 174.39 April, 2005 San Diego 185.44 December, 2003 San Francisco 168.38 May, 2004 Seattle 178.29 June, 2006 Tampa 182.26 February, 2005 Washington DC 202.34 October, 2004
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