July 14, 2024

housing bustCNNMoney reports that a number of cities that have held up as good housing markets in the midst of a national crisis have recently succumbed to the general trend. Lately Charlotte, NC, Seattle, Portland, Ore., and Salt Lake City have all registered declines even though they had posted pricing gains during 2007.

As an example, Salt Lake City saw a decline of about 7% in the fourth quarter of 2007, vs. the third quarter. This decline was in the face of Salt Lake Cities steep growth in its population, which is up about 14% since the 2000 census.

What this development brings to light is that the trend of the declining housing market is extending its reach. However, these cities still remain better off than most cities and will most likely rebound more quickly than the others, as well.        San Diego Realtors

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