Where not to move: Cities facing biggest housing price declines

There are a lot of reasons to move to Las Vegas. If you’re looking to invest in residential real estate, though, you’d best stay away.

Las Vegas topped a dubious list last week, ranking as the city experiencing the largest drop in housing prices, according to a story on SmartMoney.com written by reporter AnnaMaria Andriotis.

According to the story, home values in Las Vegas have fallen 24.5 percent from their peak, the largest drop in the nation.

Of course, Vegas isn’t the only city experiencing major declines in housing value. Miami, Phoenix, Los Angeles and San Diego all joined Sin City on SmartMoney’s list.