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Biggest Value Swings for US Housing Markets

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Biggest Housing Market Value Swings

The past two years have been tumultuous for the US Housing Market, with foreclosures on the rise and home values falling in most areas of the country, but how big have  THOSE changes really been and how does 2009 compare to 2008? In its latest report, real estate site found that home value losses began to stabilize in 2009, reaching $489 billion in total losses during the year, compared with $3.6 trillion in 2008. Of the 154 markets tracked by Zillow, 48 saw value increases in 2009,  although i
Source: Zillow.com | Photo: Garry Hunter| Stone Sub | Getty Images

The past two years have been tumultuous for the US Housing Market, with foreclosures on the rise and home values falling in most areas of the country, but how big have those changes really been and how does 2009 compare to 2008?

In its latest report, real estate site Zillow.com found that home value losses began to stabilize in 2009, reaching $489 billion in total losses during the year, compared with $3.6 trillion in 2008. Of the 154 markets tracked by Zillow, 48 saw value increases in 2009, although in the top 15 largest price swings only three markets experienced gains. Estimates are based on year-over-year changes in home values in each market through October using Zillow's "Zestimates" database.

So, which housing markets experienced the most dramatic total home value swings in 2009? Click ahead to find out!

By Paul Toscano
Posted 22 Dec 2009

15. Denver, Colo.

2009 change: +$10.66 billion2008 change: -$20.73 billionYear-over-year change (2009): 0.9%Total current value: $215.74 billion
Photo: Seth Joel | Photographer's Choice RF| Getty Images

2009 change: +$10.66 billion
2008 change: -$20.73 billion
Year-over-year change (2009): 0.9%

Total current value: $215.74 billion

14. Providence, R.I.

2009 change: +$12.41 billion2008 change: -$28.73 billionYear-over-year change (2009): +1.8%Total current value: $148.59 billion
Photo: David H. Wells | The Image  Bank | Getty Images

2009 change: +$12.41 billion
2008 change: -$28.73 billion
Year-over-year change (2009): +1.8%

Total current value: $148.59 billion

13. Tampa, Fla.

2009 change: -$15.53 billion2008 change: -$39.67 billionYear-over-year change (2009): -14.9%Total current value: $156.63 billion
Photo: iStock Photo

2009 change: -$15.53 billion
2008 change: -$39.67 billion
Year-over-year change (2009): -14.9%

Total current value: $156.63 billion

12. Sacramento, Calif.

2009 change: -$20.73 billion2008 change: -$43.67 billionYear-over-year change (2009): -13.4%Total current value: $166.04 billion
Photo: Kim Steele | Getty Images

2009 change: -$20.73 billion
2008 change: -$43.67 billion
Year-over-year change (2009): -13.4%

Total current value: $166.04 billion

11. Orlando, Fla.

2009 change: -$20.85 billion2008 change: -$36.22 billionYear-over-year change (2009): -20.7%Total current value: $109.36 billion
Photo: Glowimages | Getty Images

2009 change: -$20.85 billion
2008 change: -$36.22 billion
Year-over-year change (2009): -20.7%

Total current value: $109.36 billion

10. Boston, Mass.

2009 change: +$23.27 billion2008 change: -$53.38 billionYear-over-year change (2009): +1.5%Total current value: $540.44 billion
Photo: Walter Bibikow | Taxi | Getty Images

2009 change: +$23.27 billion
2008 change: -$53.38 billion
Year-over-year change (2009): +1.5%

Total current value: $540.44 billion

9. Detroit, Mich.

2009 change: -$27.31 billion2008 change: -$53.02 billionYear-over-year change (2009): -20.5%Total current value: $161.12 billion
Photo: Walter Bibikow | Getty Images

2009 change: -$27.31 billion
2008 change: -$53.02 billion
Year-over-year change (2009): -20.5%

Total current value: $161.12 billion

8. Las Vegas, Nev.

2009 change: -$30.10 billion2008 change: -$51.31 billionYear-over-year change (2009): -31%Total current value: $91.63 billion
Photo: Gerald Lord | Getty Images

2009 change: -$30.10 billion
2008 change: -$51.31 billion
Year-over-year change (2009): -31%

Total current value: $91.63 billion

7. San Francisco, Calif.

2009 change: -$34.25 billion2008 change: -$139.21 billionYear-over-year change (2009): -5.1%Total current value: $746.26 billion
Photo: Jumper | Photodisk | Getty Images

2009 change: -$34.25 billion
2008 change: -$139.21 billion
Year-over-year change (2009): -5.1%

Total current value: $746.26 billion

6. Riverside, Calif.

2009 change: -$39.94 billion2008 change: -$111.32 billionYear-over-year change (2009): -21%Total current value: $230.71 billion
Photo: BlackHawkTraffic

2009 change: -$39.94 billion
2008 change: -$111.32 billion
Year-over-year change (2009): -21%

Total current value: $230.71 billion

5. Phoenix, Ariz.

2009 change: -$45.14 billion2008 change: -$85.97 billionYear-over-year change (2009): -20.4%Total current value: $241.14 billion
Photo: Morey Milbradt | Brand X | Getty Images

2009 change: -$45.14 billion
2008 change: -$85.97 billion
Year-over-year change (2009): -20.4%

Total current value: $241.14 billion

4. Miami-Fort Lauderdale, Fla.

2009 change: -$45.91 billion2008 change: -$137.15 billionYear-over-year change (2009): -16.1%Total current value: $403.53 billion
Photo: Christoph Wilhelm | Stone | Getty Images

2009 change: -$45.91 billion
2008 change: -$137.15 billion
Year-over-year change (2009): -16.1%

Total current value: $403.53 billion

3. New York, N.Y.

2009 change: -$49.02 billion2008 change: -$225.24 billionYear-over-year change (2009): -10.4%Total current value: $2.695 trillion
Photo: Panoramic Images | Getty Images

2009 change: -$49.02 billion
2008 change: -$225.24 billion
Year-over-year change (2009): -10.4%

Total current value: $2.695 trillion

2. Chicago, Ill.

2009 change: -$49.59 billion2008 change: -$93.95 billionYear-over-year change (2009): -10.4%Total current value: $688.78 billion
Photo: Bryce Pincham | Stone Sub | Getty Images

2009 change: -$49.59 billion
2008 change: -$93.95 billion
Year-over-year change (2009): -10.4%

Total current value: $688.78 billion

1. Los Angeles, Calif.

2009 change: -$60.83 billion2008 change: -$345.74 billionYear-over-year change (2009): -4.2%Total current value: $1.747 trillion
Photo: CGIBackgrounds.com | Collection Mix: Subjects RM | Getty Images

2009 change: -$60.83 billion
2008 change: -$345.74 billion
Year-over-year change (2009): -4.2%

Total current value: $1.747 trillion