Big Numbers: 2008 Home Price Decline

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By
Muhammed El-Hasan
on January 27, 2009 9:43 AM | | Comments (0) |

In the Los Angeles-Long Beach-Glendale region, home prices dropped 24.68% in November compared to a year earlier, according to a report by First American CoreLogic.

The Riverside-San Bernardino-Ontario area saw a drop of 29.19%.

Nationwide, the drop was a less painful 10.6%.

Home prices fell in 35 states, with California leading the way with a 26.9% decline. Nevada saw a drop of 22.8%, Arizona 19%, Florida 18.2% and Rhode Island 13.7%.

This is bad news for the economy since our recession started beccause of the housing market crash.

On the up side, it's good news for renters who want to buy -- if they still have a job.

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This page contains a single entry by Muhammed El-Hasan published on January 27, 2009 9:43 AM.

Large Local Store to Close was the previous entry in this blog.

South Bay Home Prices Drop -- Again is the next entry in this blog.

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About Biz Waves

Biz Waves is a one-stop Web hub for business news and content from the South Bay region of Los Angeles County and beyond.

The primary contributor is:

Muhammed El-Hasan, a business reporter at the Daily Breeze since 2000, covers aerospace and everything else about business in the South Bay. Muhammed previously reported at the San Bernardino Sun and the community news division of The Orange County Register. He also worked as a researcher in the Jerusalem bureau of the Los Angeles Times in 1996-97. But his career highlight as a young man was driving a forklift at a Gardena company near Hawthorne, where he grew up.

You can email Muhammed at muhammad.el-hasan@dailybreeze.com

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