2007 Housing Report - The Best & Worst

[Alex Shay]

According to a report by CNN, the 5 most expensive housing markets in the USA in 2007 along with average home prices were Beverly Hills, CA $2,206,883, Greenwich, CT $2,018,750, La Jolla, CA $1,800,000, Santa Monica, CA, $1,785,000, and Palo Alto, CA $1,687,000 .

The 5 least expensive housing markets in the USA in 2007 along with average home prices were Killeen, TX $136,725, Minot, ND $139,033, Arlington, TX $139,175, Canton, OH $146,333, and Muncie, IN $150,000.

According to the National Association of Realtors, the 5 cities with the biggest drop in home prices in 2007 were Palm Bay, FL $182,400 (median price) 12.4% (price drop), Sacramento, CA $335,700 (median price)10.5% (price drop), Sarasota, FL $287,400 (median price) 10.4% (price drop), New Orleans, LA $160,200 (median price) 8.2% (price drop), and Hagerstown, MD $208,400 (median price) 8.0% (price drop).

The 5 fastest appreciating housing markets were Bismarck, ND $161,600 (median price) 15.3% increase, Salt Lake City, UT $246,700 (median price) 14.1% increase, Yakima, WA $163,200 (median price) 13.6% increase, Binghamton, NY $119,600 (median price) 11.4% increase, and Charlotte, NC $220,100 (median price) 11.0% increase.