Integrated Asset Services recently released a snapshot of ten American counties that have been hit particularly hard in the housing bust. The red figures represent their percentage drops from their peaks:
Integrated Asset Services, LLC (IAS) (www.iasreo.com), a leader in default management and residential collateral valuation, today released its IAS360™ House Price Index for December. Based on the timeliest and most granular data available in the industry, the index showed a 13.8% decline in house prices for the full year 2008 and an overall decline of 19.1% since the market’s peak at the end of 2006. This after December 2008 posted continued declines of 1.1%.
The IAS report also identified 10 of the counties hit hardest during the national decline. Not surprisingly, most were in states that experienced the largest gains during the housing bubble, California and Florida in particular. California fared the worst with three of the nation’s hardest hit counties: San Joaquin County, down 51% from its high, Monterey County, down 49%, and Kern County, down 45%.