The Real Deal Miami

Miami no. 2 on falling prices

September 08, 2008 10:15AM

The S&P/Case-Shiller U.S. National Home Price Index, which measures prices in 20 cities across the country, shows that Miami is the metropolitan area with the second-steepest price declines in the nation. Las Vegas is No. 1, according to the index. Las Vegas recorded an average 28.6 percent decline in the past year, barely surpassing Miami, whose prices have fallen 28.3 percent in the past year. The national aggregate was 15.4 percent.