City Peaks and Troughs

Along with the three composites — national, 10-city and 20-city — four cities also set new lows in the December data.   The four were Tampa, Las Vegas, Seattle and Atlanta.  The first two of these are among the consistently weak sunbelt while the other two were reasonably stable until the last six months.  In both Atlanta and Seattle low-priced homes showed more deterioration in price than mid- and high-priced homes.  One factor appears to be sharp increases in foreclosure activity focused on the low-price houses.   The recent weakness hasn’t pushed all the cities to new lows. Washington DC is 8.4% above its March, 2009 low and continues to show some strength despite recent weakness. The three California cities, San Diego, Los Angeles and San Francisco all set lows some two and a half years ago in March 2009 and have remained above those levels by small margins.  The table shows each city’s record high index level and date, the most recent low and that date and changes.

Comparing the S&P/Case-Shiller Cities

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