Rank: 2 Home price forecast: -25.5% (one year, forecast through March 2010)
City stats
Population: (2006)
682,833
Median family income: (2008)
$59,600
Home prices
Median home price: (2008)
$227,000
Affordability index: (2008 median home price/family income)
3.8
Prices peaked in:
2006:Q1
Total climb during the boom: (2000 to peak)
151.0%
Total decline so far: (Peak through 2008)
-43.7%
One-year change: (Q4 2007 to Q4 2008)
-23.7%
Forecast
Price change : (from peak to bottom)
-64.3%
When they'll hit bottom:
2010:Q4
At bottom, prices will drop to levels last seen in:
1998: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.
