Worst Housing Market Q1 to Q2: Providence, R.I.
Now that we’ve seen the best, let’s look at the rest. At the bottom of the barrel from the first quarter to the second quarter is Providence, R.I. The region has suffered a painful 4.9% decline in prices in just three months.
The good news is that the full-year forecast according to Clear Capital is only a 0.3% decline from 2011 through 2012. But the bad news is that it’s still a decline.
Interestingly enough, the saturation of foreclosures (as measured by REO saturation) is just 14.2% — well below some of the other laggards.
Here are the rest of the five worst quarter-to-quarter price losers:
2. Honolulu, Hawaii, is down 1.4%
3. Charlotte, N.C., is down 1.2%
4. Raleigh, N.C., is down 1.1%
5. Detroit, Mich., is down 0.9%