Miami and Most Cities Are Still Ahead After Housing Boom
via cnbc.com
I pulled this chart from CNBC that tracks the S&P Case Shiller Home Price Indices. The chart on the left hand side shows home price appreciation during boom times starting in 2000 until the peak of the market in 2005. The chart on the left shows the subsequent price declines.
Home prices in Miami rose 170% only to decline 48%. So if you bought a home in 2000, you are still up 40%. This trend is the case across the majority of the other cities. The one outlier is Vegas where the market has retraced all the gains made from 2000 to 2005.
Does this mean more price declines are in store? I'm not sure, but would love to hear your thoughts.
