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.