Looking for falling housing prices? Try Sacramento

During this housing slump, we’ve all read that home prices across the country have fallen. But by how much have they dropped?

BusinessWeek last week ran an interesting story by writer Prashant Gopal, which listed the U.S. cities that saw the biggest drop in housing prices from one year to the next. The biggest drop — I’d call it a plummet, actually — took place in Sacramento, where the asking prices on houses for sale had fallen 40.96 percent from one year earlier. That’s a huge drop.

Phoenix, which has been having serious housing problems of its own, came in next on the list with a drop in asking price of 25.85 percent. Next came Los Angeles, with a drop in asking price of 25.56 percent. Rounding out the top five were Las Vegas, with a drop of 23.38 percent, and Atlanta, a drop of 22.19 percent.

You can read the story here. If you’re selling a home, just hope that your city isn’t anywhere on the list.