Below we highlight the percentage difference between current median home prices and the max median home prices seen in each of the twenty cities that S&P/Case-Shiller tracks. As shown, there is quite a big difference between the worst areas and the ones that have held up the best. Phoenix, Las Vegas, Miami and San Diego have all seen a median home price decline of more than 30% from their peaks. Los Angeles, Detroit, San Francisco and Tampa are in the second tier of declines between -25% and -30%.
On the flip side, Charlotte, Dallas, Denver, Portland, Seattle and Atlanta are all down less than 10% from their peaks, while New York, Chicago and Boston are just over -10%. While the composite indices are down about 20%, there is a pretty big discrepancy in price declines depending on what area of the country you look at.