Case Shiller Report For February 2009 ... as we haven't seen since 1929.

By
Real Estate Agent with StoneHouse Realty, Inc

When you look back at this period of real estate history in the United States you will have to wonder how we kept our sanity. The picture of the stockbroker jumping out of the window is the image from the Great Depression. What will be the image of the Real Estate agent who went through the housing boom and then the losses we are looking at today.

The Case Shiller report for February, 2009 is out and the month over month numbers are ugly across the board, the year over year numbers are scary in many of the markets, but the numbers I dug up from the data is really freaky.

From July, 2006 (the peak of the market numerically) we have 6 major markets down more than 40 percent with Phoenix being down over 50%. With Tampa and Detroit hovering just under the 40 percent line and Washington and Minneapolis down around 30 percent, we have just seen a bubble burst.

Some have been calling a bottom now for a while, I came close a couple of times, but when do you think it will happen? And will it occur before or after inflation starts running rampant devaluing the homes even more?

Metro Area	Feb09     Jan09-Feb09  Feb08-09 	Jul06-Feb09
 
Phoenix         	111.89  	-4.50%     -35.20%   	50.79%
Las Vegas       	121.06  	-3.60%   	  -31.70%         48.33%
San Francisco   	120.39  	-3.30%     -31.00%   	44.68%
Miami           	154.28  	-3.00%     -29.50%   	44.57%
San Diego       	146.82  	-1.00%      -22.90%   	41.05%
Los Angeles     	163.16  	-2.00%      -24.10%   	40.42%
Detroit         	74.6    	-3.80%      -23.60%   	39.47%
Tampa           	145.25 	-2.70%      -23.00%   	38.99%
Washington      	168.02  	-2.30%       -19.20%   	32.77%
Minneapolis     	116.39  	-3.10%      -20.30%   	31.83%
Chicago         	126.3   	-3.40%      -17.60%   	24.63%
Atlanta         	106.65  	-2.50%      -15.30%   	20.94%
Cleveland       	97.76   	-5.00%      - 8.50%   	20.84%
New York        	178.16  	-1.60%      -10.20%  	17.23%
Boston          	148.77  	-1.30%      - 7.20%   	16.32%
Portland        	150.88  	-1.90%      -14.40%   	16.02%
Seattle         	152.12  	-1.50%      -15.40%   	15.47%
Denver          	120.22  	-1.70%      - 5.70%   	14.29%
Dallas          	112.39  	-0.30%      - 4.50%   	10.35%
Charlotte       	118.94  	-1.60%      - 9.40%    	 7.05%
 
Full Case Shiller Report

 

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