Case-Shiller just reported that housing prices are back to 2003 levels and decreases in the value of these homes, are up in 13 in 20 of our major markets.

According to the National Association of Realtors, they estimate that distressed sales accounted for 40-45% of February 2009's existing home sales.  The 3 markets in greatest distress (declining values) are:  Phoenix - down 35%; Las Vegas - down 32.5%; San Francisco - down 32.4%.

For real estate specifically in the Chicago and suburban areas, that equates to a 16.4% decline in home values.  We seem to be holding onto depreciating assets. 

The metropolitan areas that are doing fairly well, as compared to the national real estate average, are listed below.  The time frame referenced is this last 12 months: 

Boston - 7.3% all figures indicate % decline/down over the past year

Charlotte, NC - 8.2%

Cleveland - 5.2%

Dallas - 4.9%

Denver - 5.1%

New York - 9.6%

Posted by:  Carol Best | Coldwell Banker in Barrington, IL  http://www.CarolBest.net

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