February 23, 2007

Worst U.S. Cities—10 Real Estate Markets to Avoid

Planning to buy a home in the next 12 months? Well, if you live in one of the cities listed below, you may want to postpone buying a home.

According to CNN, these are the worst 10 cities to buy a home, over the next 12 months. The expected percentage decline is listed below.

  • Stockton, CA  —> expected 9.7% decline
  • Merced, CA  —> expected 8.9% decline
  • Reno/Sparks, NV  —> 8.9% decline
  • Fresno, CA  —> 7.9% decline
  • Vallejo/Fairfield, CA  —> 7.8% decline
  • Las Vegas, NV  —> 7.1% decline
  • Bakersfield, CA  —> 6.6% decline
  • Sacramento, CA  —> 6.4% decline
  • Washington, D.C.  —> 6.3% decline
  • Tucson, AZ  —> 6.2% decline

In some cities, such as Reno, I think we could see a higher decline than CNN expects. Interestingly, all the cities listed—with the exception of Tucson and D.C.—are in California (or just over the border, in the case of Reno/Sparks).

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September 24, 2007

Brad Mayer :

Even more, 6 of the top 8 are concentrated in North-Central California (or right across in Reno, NV)

# Stockton, CA —> expected 9.7% decline
# Merced, CA —> expected 8.9% decline
# Reno/Sparks, NV —> 8.9% decline
# Fresno, CA —> 7.9% decline
# Vallejo/Fairfield, CA —> 7.8% decline
# Las Vegas, NV —> 7.1% decline
# Bakersfield, CA —> 6.6% decline
# Sacramento, CA —> 6.4% decline

Interesting when you consider that the SF Bay Area is considered one of the areas in the US most impervious to declines.

EconEdge :

Good point!

Thanks for the comment.

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