Rank: 6 Home price forecast: -19.1% (one year, forecast through March 2010)
City stats
Population: (2006)
2,697,731
Median family income: (2008)
$56,500
Home prices
Median home price: (2008)
$181,000
Affordability index: (2008 median home price/family income)
3.2
Prices peaked in:
2006:Q2
Total climb during the boom: (2000 to peak)
130.6%
Total decline so far: (Peak through 2008)
-33.4%
One-year change: (Q4 2007 to Q4 2008)
-20.9%
Forecast
Price change : (from peak to bottom)
-52.6%
When they'll hit bottom:
2011:Q1
At bottom, prices will drop to levels last seen in:
2001:Q1
Notes: The 100 largest markets determined using 2006 Census population figures; metro areas are generally labeled by the largest city in that area. Price data are for single-family homes through the third quarter of 2008, the most recent data available. Forecast change from first quarter 2009 to first quarter 2010. Figures for Q42008 are estimated Sources: Fiserv Lending Solutions, Moody's Economy.com, Dutchess County Association of Realtors, Illinois Association of Realtors, Real Estate Center at Texas A&M University.
