10 worst real-estate markets for 2009

The housing market hasn't bottomed out yet. For the third quarter, the closely-watched S&P Case-Shiller national home-price index fell 16.6%, and experts are predicting further declines. Of the top 100 markets, here are 10 with the worst forecasts.

1. Los Angeles

2008 median house price: $375,340

2009 projected change: -24.9%

2010 projected change: -5.1%

The median home price in the L.A.-Long Beach-Glendale metro area is projected to fall nearly 25% in 2009 - the biggest drop in the country.

2. Stockton, Calif.

2008 median house price: $248,050

2009 projected change: -24.7%

2010 projected change: -4.0%

One in every 94 homes received a foreclosure filing this November in this northern California market near Sacramento, according to RealtyTrac. Eight of the ten worst housing markets projected for 2009 are in California.



3. Riverside, Calif.

2008 median house price: $256,540

2009 projected change: -23.3%

2010 projected change: -4.8%

A popular boom earlier this decade fueled runaway prices for single-family homes in this market, which includes San Bernardino and Ontario, outside Los Angeles. Median prices are expected to fall to $197,000 in 2009, down nearly $60,000 from 2008.



4. Miami-Miami Beach

2008 median house price: $293,590

2009 projected change: -22.8%

2010 projected change: -6.4%

Miami will be nursing the hangover from its epic building boom for years to come. After falling 22% in 2008, prices are predicted to plunge another 23% next year.


5. Sacramento

State Capitol building in Sacramento

2008 median house price: $225,140

2009 projected change: -22.2%

2010 projected change: 2.3%

High jobless rates and low population growth are helping burst the capital city's inflated housing market. Prices are expected to fall another 22% in 2009, after tumbling 34% in 2008.



6. Santa Ana-Anaheim

2008 median house price: $532,810

2009 projected change: -22.0%

2010 projected change: -3.5%

Of the 100 biggest markets, this Orange County area, which includes Anaheim and Irvine, was the fifth most expensive place to live this year. But in 2009, prices are forecast to decline by $121,000.



7. Fresno

2008 median house price: $257,170

2009 projected change: -21.6%

2010 projected change: -3.3%

Fresno is located between Los Angeles and Sacramento, but it shared their housing woes. Prices in 2009 are expected to fall 44% from just two years ago.



8. San Diego

2008 median house price: $412,490

2009 projected change: -21.1%

2010 projected change: -2.9%

As the luxury condo boom continues to fizzles, median home prices in this southern California market are forecast to fall $87,000 to $326,000 in 2009.


9. Bakersfield, Calif.

2008 median house price: $227,270

2009 projected change: -20.9%

2010 projected change: -2.5%

This city north of Los Angeles had the ninth highest foreclosure rate in November, as one of the country's largest real estate bubbles continues to burst. Including Bakersfield, six of the ten worst foreclosure markets were in California.



10. Washington, D.C.

2008 median house price: $343,160

2009 projected change: -19.9%

2010 projected change: -5.7%

This market, which includes bordering Virginia towns Arlington and Alexandria, is cooling off from record highs. Forecasts call for median prices to slide 20% to $275,000 in 2009.