Santa Barbara Housing Market in Decline

The City of Santa Barbara leads the country in housing market decline, down 12.6 percent from the end of 2005, according to a report from Global Insight, an economic and financial analysis forecasting group. Nationally, home prices are up just 2.6 percent, the weakest since 1995. The largest declines occurred in California, although declines were happening all over the country. The report is based on a 2007 second-quarter update on house prices in America.

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