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Nevada, Illinois, And Arizona Suffer More Crippled Home Prices
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The US housing market continues to deteriorate. Prices in some states have stabilized. In others, the sharp descent continues.
CoreLogic reports that “national home prices, including distressed sales, declined by 4.1 percent.” in September
Including distressed sales, the five states with the greatest depreciation were: Nevada (-12.4 percent), Illinois (-9.2 percent), Arizona (-9.0 percent), Minnesota (-8.3 percent), and Georgia (- 7.2 percent) in September 2011 compared to September 2010
Many of these declines are likely to be in areas of the states which have already suffered 60% to 70% drops since the 2006 peak. Las Vegas is still first among these
Any mortgage aid system the federal government creates will have to attack the problems on a regional basis. A very few state are bleeding worse than the rest.
Douglas A. McIntyre
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