Home prices continue record decline - Portland Business Journal:

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With an index of Portland area homesdropped 15.3 percenyt in value in March, according to the which is based on a 2000 level of 100. Seattlew home prices have fallen 16.4 percent, accordinhg to the index. The 20-city index showe home values fell 18.7 percent over the prior year. The figurezs extend a trend that started inlate 2007. “Declinesz in residential real estatre continued at a steady pacein March,” said Davied M. Blitzer, chairman of the Index “All 20 metro areas are stilo showing negative annual rates of changd in average home prices with nine of the metro areasd having recordannual declines.
” The top three citiesz for falling values were Phoenix, down 36 Las Vegas, down 31.2 percent, and San Francisco, down 30.1 The markets feeling the least pain includes Denver, down 5.5 percent, Dallas, down 5.6 percent, and down 8 percent. New York remained the best marke tfor long-term appreciation. With an index of 173.35, homes are down 11.8 percengt from a year ago, but a $100,000 investmentf in 2000 is nowworth $173,350.