Ten housing markets dropped significantly in the last year

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According to a report from the National Association of Realtors and Realtor.com, ten housing markets have dropped significantly in the last year, despite a general overall improvement in median sales prices across the country.

November 12, 2012

According to a report from the National Association of Realtors and Realtor.com, ten housing markets have dropped significantly in the last year, despite a general overall improvement in median sales prices across the country.

Below are the ten markets with the greatest home value declines in the last 12 months, as analyzed and compiled by 247wallst.com.

1. Raleigh-Cary, N.C.

  • Percent change: -16.1 percent
  • Sales price 2012: $188,200
  • Sales price 2011: $224,300
  • August 2012 Unemployment: 7.8 percent
  • August 2011 Unemployment: 9 percent

2. York-Hanover, Penn.

  • Percent change: -9.4 percent
  • Sales price 2012: $143,900
  • Sales price 2011: $158,900
  • August 2012 Unemployment: 8 percent
  • August 2011 Unemployment: 8 percent

3. Binghamton, N.Y.

  • Percent change: -6.6 percent
  • Sales price 2012: $112,600
  • Sales price 2011: $120,500
  • August 2012 Unemployment: 8.9 percent
  • August 2011 Unemployment: 7.9 percent

4. Madison, Wisc.

  • Percent change: -4.3 percent
  • Sales price 2012: $210,600
  • Sales price 2011: $220,100
  • August 2012 Unemployment: 5.2 percent
  • August 2011 Unemployment: 5.2 percent

5. Tallahassee, Fla.

  • Percent change: -3.8 percent
  • Sales price 2012: $144,400
  • Sales price 2011: $150,100
  • August 2012 Unemployment: 7.4 percent
  • August 2011 Unemployment: 8.9 percent

6. Champaign-Urbana, Ill.

  • Percent change: -3.6 percent
  • Sales price 2012: $149,400
  • Sales price 2011: $154,900
  • August 2012 Unemployment: 7.3 percent
  • August 2011 Unemployment: 7.8 percent

7. New Haven-Milford, Conn.

  • Percent change: -3.5 percent
  • Sales price 2012: $227,200
  • Sales price 2011: $235,400
  • Trend: Recent drop
  • August 2012 Unemployment: 9.7 percent
  • August 2011 Unemployment: 9.4 percent

8. Newark-Union, N.J.-Penn.

  • Percent change: -3.4 percent
  • Sales price 2012: $389,400
  • Sales price 2011: $403,100
  • August 2012 Unemployment: 9.1 percent
  • August 2011 Unemployment: 8.6 percent

9. Kingston, N.Y.

  • Percent change: -3.3 percent
  • Sales price 2012: $199,200
  • Sales price 2011: $206,100
  • Trend: Consistent fall
  • August 2012 Unemployment: 9.3 percent
  • August 2011 Unemployment: 8 percent

10. Atlantic City, N.J.

  • Percent change: -3 percent
  • Sales price 2012: $214,000
  • Sales price 2011: $220,600
  • August 2012 Unemployment: 12.2 percent
  • August 2011 Unemployment: 11.9 percent

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