If You Live In Vegas, You Ain’t Moving On Up Real Soon

November 25, 2009

By Whitey Hudson

1. Las Vegas-Paradise, Nev.
% of Homes with negative equity: 81.1%
Homes with negative equity: 257,683

Zillow Home Value Index: $134,601
Year-over-year change: -31.6%

Last time market was at current levels: Apr 2001
Change from market peak: -55.7%

2. Merced, Calif.
% of Homes with negative equity: 72.2%
Homes with negative equity: 29,580

Zillow Home Value Index: $96,340
Year-over-year change: -38.9%

Last time market was at current levels: Oct 1998
Change from market peak: -72.0%

3. Modesto, Calif.
% of Homes with negative equity: 70.4%
Homes with negative equity: 63,099

Zillow Home Value Index: $141,045
Year-over-year change: -22.7%

Last time market was at current levels: Jan 2001
Change from market peak: -61.4%

4. Stockton, Calif.
% of Homes with negative equity: 66.9%
Homes with negative equity: 74,939

Zillow Home Value Index: $154,501
Year-over-year change: -24.8%

Last time market was at current levels: Oct 2000
Change from market peak: -62.4%

5. Phoenix-Mesa-Scottsdale, Ariz.
% of Homes with negative equity: 63.5%
Homes with negative equity: 470,923

Zillow Home Value Index: $148,501
Year-over-year change: -22.2%

Last time market was at current levels: Jul 2003
Change from market peak: -47.2%

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