February home prices date back as far as 2000!

In Essex and Suffolk, MA and Adams, CO prices are back to levels not seen since 2000. In Boston, MA; Arapahoe and Broomfield, CO, prices go back to 2001. And in Middlesex, Norfolk and Plymouth, MA; McHenry, IL; Denver, CO; Alameda, CA and Fauquier and Loudoun, VA, prices are at 2002 levels.

by Broderick Perkins
© 2008 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - Home prices have dipped to 2004 levels nationwide, but in select areas, they go back as far as 2002, 2001 and 2000 -- nearly 10 years ago.

And signs of improvement are slim to none.

Integrated Asset Services, a default management and home valuation company, reported in its IAS360 Home Price Index for February that home prices have fallen more than 14 percent nationwide in the last year and nearly 18 percent since the peak of the real estate boom in 2006.

But some of the hottest booming areas have fallen from 25 percent to nearly 50 percent since peak markets, pushing prices nationwide down to levels not seen since 2004.

In Essex and Suffolk, MA and Adams, CO prices are back to levels not seen since 2000. In Boston, MA; Arapahoe and Broomfield, CO, prices go back to 2001. And in Middlesex, Norfolk and Plymouth, MA; McHenry, IL; Denver, CO; Alameda, CA and Fauquier and Loudoun, VA, prices are at 2002 levels.

Since the peak, the highest home price declines in major metropolitan areas were in Miami-Dade 28.2 percent; Boston, 27.1 percent; San Diego, 26.7 percent; San Francisco, 24.9 percent and Las Vegas, 24.1 percent.

Larger declines were in more local communities, Suffolk, MA, 46.7 percent; Essex MA 39.9 percent; Alameda, CA, 36.3 percent; Contra Costa, 31.0 percent; Stafford, VA, 30.6 percent; Plymouth, MA, 30.2 percent; Loudoun, VA 28.9 percent and Miami-Dade, 28.2 percent.

"We have seen no indication of a positive turn in the housing markets we track, if anything the rate of decline in some areas has increased," said Dave McCarthy, President and CEO of Integrated Asset Services, in a prepared statement.

The monthly IAS360 House Price Index tracks monthly changes in the median sales price of detached single-family residences across the U.S. The index, based on all arms-length transactions, tracks data of 15,000 neighborhoods and rolls-up the data to report on the changes in 360 counties, nine census divisions, four regions, and the nation overall.

Source: Integrated Asset Services

© 2008 DeadlineNews.Com

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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop. Perkins is also a National Real Estate Examiner. All the news that really hits home from three locations -- that's location, location, location!

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