U.S. Home Values Have Fallen Past The Housing Crash -- Back To 2003 Levels


Home values in 25 major cities have fallen to the lowest level in eight years, according to the RPX Composite Index.

That’s a definitive double dip.

And from peak, home values are down 34%.

Las Vegas and Phoenix are leading the collapse, down over 50% from peak. The only market that hasn’t been pummelled by the crash are Manhattan Condos, down less than 10%.

So far the Case Shiller index hasn’t yet fallen past 2009 lows, but that should happen soon. The question now is when will the double dip stop.

Housing Wire describes a “nameless, formless crisis” enveloping the housing market.

Don’t Miss: Case-Shiller Names The 15 Housing Markets That Will Fall Most By 2012

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