Fortune has released their 10 worst-performing real-estate markets predictions for 2009 and I’m happy to report that, unlike last year, Reno is not included. Could the worst be over for the Reno housing market?
Here are Fortune’s 10 Worst Real Estate Markets for 2009. Note that eight of the ten are in California. Note also that Sacramento’s median price is projected to rise in 2010.
|
|
2008 median house price |
2009 projected change |
2010 projected change |
|
Los Angeles, CA |
$375,340 |
-24.9% |
-5.1% |
|
Stockton, CA |
$248,050 |
-24.7% |
-4.0% |
|
Riverside, CA. |
$256,540 |
-23.3% |
-4.8% |
|
Miami-Miami Beach, FL |
$293,590 |
-22.8% |
-6.4% |
|
Sacramento, CA |
$225,140 |
-22.2% |
2.3% |
|
Santa Ana-Anaheim, CA |
$532,810 |
-22.0% |
-3.5% |
|
Fresno, CA |
$257,170 |
-21.6% |
-3.3% |
|
San Diego, CA |
$412,490 |
-21.1% |
-2.9% |
|
Bakersfield, CA |
$227,270 |
-20.9% |
-2.5% |
|
Washington, D.C |
$343,160 |
-19.9% |
-5.7% |
longerwalk
Before getting excited, could you describe how accurate Fortune has been in the past, and is that better than raw luck?
Admittedly, simply being absent from their list may mean fewer prospective buyers scratch Reno from their list, but that’s not much.
MikeZ
re: “Bottom?”
With the median SFH price now below $220K, I think we’re darn close.
And if Congress passes the 10%/$22K tax credit for a primary residence that the builders are pushing for, I’ll almost certainly be buying a primary residence this year.
Jamey Prezzi
Lucky You!