Integrated Asset Services released their latest IAS360 House Price Index, and as you might expect, the news isn't good. Between January of this year and January 2008 housing prices have dropped a total of 28.4% in South Florida. That's 29.1% in Broward, 18.8% in Palm Beach, and a whopping 32.3% in Miami-Dade.
Miami-Dade dropped 5.9% between December and January, plummeted a total of 37.3% since the national housing price peak in January 2006, and dropped 20.5% since the economic crisis effectively kicked off this September. Egads.
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Only Fairfield, Conn., a few towns in Virginia, and cities in the San Francisco area have nose dived harder since January 2006.