Calif. home prices down 27.3%, nation’s worst,Texas and New Mexico Shows Gains

The Orange County Register reports:

First American LoanPerformance says California is again the nation’s worst housing market with prices falling at a 27.3% annual rate as of late June. California has held this dubious distinction since May ‘07.

Following California in June price tumbles: Nevada (-19.96%); Florida (-19.38%); Arizona (-16.14%); Rhode Island (-12.05%) and Pennsylvania (-11.21%.) Overall, FALP pegs the national price down 11.2%

National best was New Mexico, up 8.8%, and Texas, +6.2%. But only 8 of the 50 states and District of Columbia showed price gains in the year, according to FALP’s math that tracks “paired sales” — gains or losses on individual homes.