Home Prices: Worst of the Worst

The areas that have seen the sharpest declines in home prices, according to Zillow.

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Not long ago, Zillow Blog ran a post listing the areas of the country where home prices had appreciated the most from the first quarter of 2007 to the first quarter of 2008.

Now, Zillow is turning the tables and looking at the markets that saw the steepest declines.

From Zillow Blog:

Here's the top 10 list of biggest losers for Q1, YoY:

Region Zindex YoY Change
Merced, CA $189,500 -34.0%
Stocken, CA $244,000 -33.5%
Modesto, CA $222,500 -30.1%
Salinas, CA $454,000 -27.7%
Riverside-San Bernardino-Ontario, CA $287,500 -26.0%
Madera, CA $212,500 -25.5%
Las Vegas-Paradise, NV $215,500 -25.2%
Vero Beach, FL $159,500 -24.9%
Punta Gorda, FL $139,000 -24.9%
Vallejo-Fairfield, CA $336,500 -24.4%