I got this news from realestate.yahoo.com which is originally written by Tisa Silver, www.investopedia.com. The Standard & Poor Case-Shiller Home Price Indices analyzed property values in twenty metropolitan districts within the United States. Each index shows measurement the growth in value of residential or home real estate, and the index family also includes a national index and two composite indices. Data from S&P shows us the changes in property values from October, 2008 to October, 2009.

Data of days on market were provided by AOL Real Estate.

Las Vegas
The housing market downturn took a huge bite of Sin City property values. Last year, property values fell 26.6%. The good news is that on a monthly basis, property values appear to be falling at a slower pace. From August-September, 2009, values fell 0.9% and from September-October, 2009 values fell just 0.1%. On average, a home sits on the market for 142 days.

Phoenix
In October 2009, property values in Phoenix were 18.1% lower than one year earlier. However, values have recently risen, and have managed to do so at an increasing pace. From August-September, and September-October, 2009, values rose by 0.8% and 1.3%, respectively. Homes spend an average of just over four months (131 days) on the market in Phoenix.

Tampa
Two of the five cities with the largest property value declines are located in Florida. From August-September, values fell 0.6%. Homes in Tampa spend an average of 197 days on the market, representing the lengthiest stay of all 20 metropolitan regions.

Detroit
Motor City property values shrank 15.1% from October, 2008 to October, 2009. Property values actually rose 1.8% from August-September. Homes appear to be moving relatively faster in Detroit, staying on the property market for an average of 124 days.

Miami
Miami is the second city in Florida to be hit particularly hard by declining property values. As of October, 2009, property values had fallen 14% from the previous year’s levels. An every month figures show mixed results. The property market showed some signs of life, posting a 0.5% gain between August-September. The growth was short-lived, values fell 0.4% from September to October. Houses in Miami have spent a considerable amount of time on the market, it takes an average of 168 days to move.

Conclusion
Many people say real estate is about three things: location, location and location.

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