Today’s New York Times reports that of the 20 cities it surveyed, all but six experience home prices that are below the baseline date of 2009. Of these six (where prices are higher than they were in 2009), three are in California: Los Angeles, San Francisco, and San Diego. The other three are Minneapolis, Denver (just barely), and Washington. In other words there are as many cities experiencing above-2009 home prices in California as in the rest of the country put together.
Floyd Norris, Home Prices Declined to New Lows in 2011, N.Y. Times, March 3, 2012, at p. B3.