Cities with the fastest-falling home prices

For many cities, home prices are still falling, according to Forbes.com. For its list of cities with the fastest-falling home prices, Forbes used Altos Research's January market update, which looks at asking prices, inventory and days on the market single-family homes--but not condominiums--in 27 of the country's closely watched real estate markets.
It uses homes for sale in each city's Metropolitan Statistical Area--a census-defined area that the federal government uses to collect statistics--for its data.

Here they are:

1. San Diego-Carlsbad-San Marcos, Calif.
2. Salt Lake City, Ut.
3. Charlotte-Gastonia-Concord, N.C.-S.C.
4. Denver-Aurora, Co.
5. Portland-Vancouver-Beaverton, Or.-Wa.
6. Atlanta-Sandy Springs-Marietta, Ga.
7. San Jose-Sunnyvale-Santa Clara, Calif.
8. San Francisco-Oakland-Fremont, Calif.
9. Austin-Round Rock, Texas
10. Seattle-Tacoma-Bellevue, Wash.

Miami is the only city of the 27 markets Altos tracks that saw asking prices rise over the last three months. Prices there were up 2% from October to a median price of $494,992. The reasons for this are mixed: While the numbers are somewhat promising, Miami's good fortune is also a reflection of just how long it took for the hard-hit Florida housing market to regain its footing. And even with the recent upturn, it's the city where homes sit on the market for the longest by far. Homes here stay for sale for a median of eight months. Not to mention Altos' analysis only reflects single-family homes--not condominiums, a section of the Miami's real estate market that has yet to stabilize. Source: Forbes.com

I believe the end is in site for Wisconsin, but over the next 12 months we will see home prices continue to drop here. There should be a turn around in 2011. - Jerry Grosenick with Exit Realty XL in Germantown, Wisconsin.