Home price forecast (1 year):* -15.4%
Few real estate markets suffered as much as Las Vegas after the bubble burst. Home prices plummeted down more than 22% in 2009, and are off more than 55% from their 2006 peak.
The recession has harmed the mainstay of the city's economy: tourism. Americans are traveling less and spending less when they do. Local unemployment has soared.
Las Vegas had nearly 95,000 homes go into foreclosure in 2009 -- one for every eight households, the highest rate in the nation. And the hangover in Sin City will persist. Another 15% drop is expected this year.
Is this a good time to buy a home in Las Vegas?