As the housing downturn wears on, some cities are stabilizing and some
aren’t.
In Las Vegas, the weakest market in the country, prices continue to drop.
"I don't know what those guys were drinking when they thought all this building made sense. If it does work out soon, then there's some force out there in the universe that I'm not aware of," Steve Cesinger, chief financial officer at Dewberry Capital, an Atlanta-based real estate investment firm.
Forbes magazine analyzed monthly declines as well as year-over-year declines in home prices. It also looked at how many months of equity homeowners have lost. With these figures in mind, it determined the 10 best and the 10 worst U.S. housing markets. Here they are::
10 Best
- New York City
- Washington, DC
- Charlotte, N.C.
- Portland, Ore
- San Diego
- Denver
- Boston
- Dallas
- Los Angeles
- Seattle
10 Worst
- Las Vegas
- Phoenix
- Detroit
- Minneapolis
- San Francisco
- Chicago
- Cleveland
- Atlanta
- Tampa
- Miami
Source: Forbes: Matt Woolsey (02/24/2005)