The Real Deal Miami

Miami second to Vegas in housing crash

July 30, 2008 11:43AM

The Case-Shiller index, a widely watched survey that measures home prices in 20 major metropolitan areas, called Las Vegas the worst performer in May, followed by Miami – both of which fell to record lows. Vegas saw a 3.6 percent drop and Miami had a 2.9 percent decline. The 10-city Case-Shiller index plunged 16.9 percent, its biggest decline in its 21-year history. No city in the 20-city index had gains in May, for the second consecutive month.