Housing slump brings together Detroit and Las Vegas
USA Today has charts on the slump in housing sales and prices. We think we have it bad in Massachusetts, but the number of home sales fell by a relatively modest 10.3 percent here from the last quarter of 2006 to the last quarter of 2007. At least 32 states had sharper drops, with Nevada at the front (or rear) with a 44 percent decline.
Median home prices for the same period are reported for metro areas rather than states; they dropped by 1.9 percent in the Boston area and by 5.7 percent in the Worcester area, but rose by 3.5 percent in the Springfield area. Fifteen metro areas reported double-digit slides, and they included both Sun Belt cities with high population growth (Las Vegas, Orlando, Tampa) and Rust Belt metro areas long past their peak (Detroit, Dayton, Fort Wayne).