U.S. home prices marked nine straight months of depreciation, according to just-released October statistics from First American CoreLogic, for a 10.4% decline from October 2007.
But the headline for Californians: The state is home to nine of the 10 of the worst performing markets.
Statistical area    
State
% Change
Salinas
CA
-29.06%
Merced
CA
-28.97%
Stockton
CA
-28.86%
Riverside-San Bernardino-Ontario
CA
-28.79%
Vallejo-Fairfield
CA
-28.65%
Oakland-Fremont-Hayward
CA
-28.55%
Modesto
CA
-28.41%
Bakersfield
CA
-28.01%
Miami-Miami Beach-Kendall
FL
-27.34%
Sacramento-Arden-Arcade-Roseville
CA
-26.95%

Note that these statistics don't match up with those reported by MDA DataQuick, for example, because this outfit looks at repeat sales transactions. Also note the lag time here. They're looking at October still and we already have the November figures from MDA DataQuick. Remarkably, some statistical areas actually saw gains for the same period. The top 10:

Statistical Area
State
% Change
Binghamton
NY
8.93%
Sheboygan
WI
8.91%
Florence-Muscle Shoals
AL
7.63%
Victoria
TX
7.25%
Sherman-Denison
TX
7.06%
Plattsburgh
NY
6.94%
Rocky Mount
NC
6.80%
College Station-Bryan
TX
6.71%
Charleston
WV
6.38%
Shawnee
OK
6.31%
 
California was the decline leader, down 28.3% annually; Nevada dropped 25.4%, Arizona 20.1% and Florida 17.8%. The only states showing what the number crunchers considered "meaningful price increases" were West Virginia, up 5.9%; South Dakota, 2.9%; and Texas, 2.7%.