Las Vegas, Miami, Phoenix, Los Angeles and San Diego, five areas that saw home prices rocket ahead in the housing boom, are now leading the retreat backward, as prices fall in the wake of mortgage-financing troubles and an economic slowdown.
The Standard & Poor's/Case-Shiller home-price index for February, which was released yesterday, showed San Diego County prices down 19.2 percent from February 2007.
San Diego, which ranked fifth out of 20 markets surveyed, trailed Las Vegas, which was down 22.8 percent; Miami, down 21.7 percent; Phoenix, down 20.8 percent; and Los Angeles, down 19.4 percent over the same period.
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S&P index for February shows plunge from same month in '07
