Home Prices Tumble in October: How Your City Performed

Milwaukee tops the list; San Francisco ranks last.

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Radar Logic released its most recent monthly housing market report Tuesday. Here's the damage, quoting from the press release:

[Home] prices and sales volumes decreased more in October 2008 than in any other October since the beginning of Radar Logic's data, January 2000 . . .

For the fourth month in a row, Milwaukee, WI was at the top of the 25-MSA [metropolitan statistical area] ranking in October. Home prices in Milwaukee were 5.3% higher than they were a year before, making Milwaukee the only MSA tracked by Radar Logic to experience year-over-year price appreciation in October.

San Francisco was at the bottom of the rankings with 34.4% year-over-year price decline.

Detroit, Las Vegas, Phoenix, San Diego and Seattle saw their largest month-over-month price declines since January 2000.

Though motivated sales across the 25 MSAs grew 193% between January 1 and October 31, the rate of growth slowed over the first three quarters and turned negative in October, when 18 of 25 MSAs saw motivated sales decrease.