House Prices Down in Most Areas

Although there is some hope in the housing market with sales up, housing prices are still pretty flat. This is of course with the exception of larger California cities that posted solid gains with Los Angeles up 0.7%, San Diego up 1.1% and San Francisco up 1.7%. Areas such as the Inland Empire and San Bernandino still are showing losses.

Among the hardest hit was Las Vegas which has seen no signs of improvement this year. Many believe that Las Vegas is going to have problems for quite sometime, mainly because tourism is down so far, and there is little sign of improvement.