MONEY MAGAZINE

Where home prices are headed next

Want to know what your home will be worth this time next year? Check out these home price forecasts for the 100 largest U.S. markets, from Money Magazine.

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(Money Magazine) -- The housing implosion is nowhere near over. In 75 of the 100 top U.S. cities, prices are expected to fall in the next 12 months according to Fiserv Lending Solutions.

The S&P Case/Shiller Home Price Index, which tracks 20 of the largest housing markets, showed prices plummeting by 12.7% in the 12 months ending February. That's the biggest fall since the index began tracking prices in 2000.

Meanwhile, foreclosure filings more than doubled in the first three months of 2008, spiking 112%. So far this year 156,463 families have lost their homes to repossessions. Many markets won't hit bottom till late 2009 or even 2010.

Pity the residents of Stockton, Calif., whose homes are likely to lose more than half of their 2006 value. But if you happen to live in Texas, congratulations: The housing tornado passed you by.

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Metro Area Home Price
(median)
Price Change
(5 years)
Forecast (May '09) % change in foreclosure rate (1 year)
McAllen, TX $109,000 23.3% 4.0% 23%
Rochester, NY $121,000 20.1% 2.7% 5%
Birmingham $156,000 29.4% 2.7% 20%
Syracuse $126,000 29.5% 2.6% 27%
Buffalo/Niagara Falls $105,000 24.5% 2.4% 14%
New Orleans $158,000 43.7% 2.2% 49%
Scranton $128,000 41.1% 2.2% 8%
Baton Rouge $170,000 38.3% 1.9% 14%
Grand Rapids $124,000 8.3% 1.9% 37%
El Paso $134,000 51.9% 1.8% 32%
Wichita $114,000 17.8% 1.5% 9%
Tulsa $128,000 18.8% 1.4% 5%
Fort Worth/Arlington $134,000 17.4% 1.4% 16%
Indianapolis $114,000 12.0% 1.3% 11%
Houston $150,000 25.1% 1.2% 11%
Dallas $161,000 15.8% 1.2% 14%
Gary, IN $125,000 25.6% 1.1% 12%
Albany, NY $200,000 64.1% 0.9% 10%
San Antonio $152,000 39.6% 0.8% 22%
Greensboro, NC $151,000 17.8% 0.6% 256%
Omaha $136,000 17.7% 0.6% 71%
Little Rock $128,000 28.4% 0.5% 405%
Louisville $133,000 20.7% 0.5% 17%
Columbia, SC $145,000 28.1% 0.3% 16%
Oklahoma City $134,000 29.8% 0.3% 16%
Austin $186,000 28.9% -0.1% -6%
Raleigh/Cary, NC $236,000 26.4% -0.2% 62%
Charlotte, NC $205,000 27.8% -0.5% 15%
Kansas City $148,000 19.4% -0.6% 22%
St. Louis $134,000 31.7% -0.8% 22%
Lake County, IL $260,000 30.4% -0.8% N.A.
Pittsburgh $144,000 18.1% -1.3% 1%
Memphis $124,000 8.7% -1.5% 28%
Richmond $226,000 61.4% -1.8% 72%
Milwaukee $220,000 35.7% -1.8% 53%
Atlanta $205,000 16.0% -2.3% 52%
Youngstown, OH $87,000 2.8% -3.0% 3%
Nashville $154,000 34.8% -3.3% 28%
Allentown, PA $247,000 58.9% -3.3% 52%
Akron $143,000 5.2% -3.8% 15%
Toledo $122,000 1.9% -4.0% 12%
Cincinnati $166,000 7.4% -4.2% 9%
Cleveland $145,000 1.2% -4.3% 11%
Columbus, OH $155,000 5.7% -4.4% 17%
Dayton $125,000 7.7% -4.4% 10%
Knoxville $144,000 35.6% -5.2% 39%
Minneapolis/St. Paul $235,000 15.9% -5.6% 71%
Farmington Hills, MI $175,000 -7.5% -5.9% N.A.
Poughkeepsie, NY $260,000 50.8% -6.8% 35%
Chicago $279,000 29.2% -6.8% 9%
Virginia Beach $236,000 90.1% -7.1% 33%
Cambridge, MA $417,000 10.7% -8.5% 57%
Detroit $120,000 -6.3% -8.6% 41%
Peabody, MA $365,000 10.4% -8.8% 9%
Sacramento $330,000 23.3% -8.9% 210%
Seattle $430,000 61.9% -9.0% 58%
Worcester, MA $257,000 13.5% -9.2% 102%
Springfield, MA $195,000 33.6% -9.5% 241%
Jacksonville $197,000 47.7% -9.6% 130%
San Diego $522,000 31.3% -9.7% 175%
Salt Lake City $229,000 59.9% -9.8% 18%
San Francisco $840,000 40.7% -10.1% 175%
Wilmington, DE $259,000 50.9% -10.3% 145%
Boston $363,000 13.4% -10.5% 57%
Albuquerque $174,000 50.7% -10.5% 23%
Denver $254,000 4.5% -10.8% 23%
Philadelphia $200,000 50.0% -11.1% 29%
Providence $275,000 32.0% -11.6% 107%
Oakland $595,000 27.7% -11.7% 266%
Baltimore $264,000 64.7% -12.5% 92%
San Jose $750,000 38.7% -12.5% 347%
Hartford, CT $249,000 29.1% -12.6% 51%
Bethesda, MD $460,000 54.9% -12.9% 118%
Ventura County, CA $577,000 42.7% -13.1% 240%
Tacoma $283,000 64.3% -13.2% 68%
Washington, DC $408,000 49.2% -13.2% 42%
New York City $471,000 43.5% -13.2% 3%
Bakersfield, CA $255,000 73.0% -13.6% 391%
Stamford, CT $562,000 32.8% -13.9% 66%
New Haven $260,000 36.3% -14.2% 83%
Fresno $276,000 62.1% -14.3% 285%
Nassau/Suffolk, NY $465,000 40.2% -14.4% N.A.
Portland, OR $306,000 62.3% -14.7% 100%
Camden, NJ $220,000 50.9% -14.9% 11%
Santa Ana, CA $669,000 52.4% -15.2% 290%
Newark $419,000 38.1% -15.4% -5%
Sarasota $230,000 38.0% -15.5% 458%
Edison, NJ $358,000 36.0% -15.8% 0%
Honolulu $625,000 95.3% -16.2% 129%
Los Angeles $528,000 67.7% -16.8% 261%
Stockton, CA $341,000 17.8% -16.8% 379%
Tucson $217,000 54.5% -16.9% 14%
Riverside, CA $340,000 49.9% -16.9% 299%
Tampa $200,000 52.1% -17.1% 281%
West Palm Beach, FL $305,000 46.1% -17.6% 435%
Las Vegas $277,000 60.8% -18.3% 2%
Phoenix $237,000 60.9% -18.3% 9%
Orlando $245,000 62.5% -21.0% 399%
Fort Lauderdale $309,000 56.1% -22.2% 450%
Miami $329,000 94.8% -24.9% 370%
USA $206,000 32.7% -9.7% 65%
SOURCES: Fiserv Lending Solutions; First American CoreLogic, LoanPerformance data; city and county assessors in McAllen, Texas, Poughkeepsie, N.Y. and Lake County, Ill.; MetroTex Association of Realtors; Scranton Board of Realtors; and Greater Tulsa Association of Realtors.

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