Bend home prices still dropping fast

Bend home prices still dropping fast
Stock image of a bank-owned Bend home for sale.

BEND, Ore. (AP) – A Central Oregon city that got caught up in the housing mania is now dealing with sharp price declines.

Statistics released Tuesday by the Federal Housing Finance Agency show house prices in Bend dropped 23 percent between the first quarter of 2009 and the first quarter of 2010.

The Bulletin newspaper of Bend reports that's the highest rate of depreciation among the 301 metropolitan statistical areas nationally.

Housing prices statewide had an 8.6 percent drop between the first quarter of 2009 and the first quarter of 2010 – the sixth-highest rate of depreciation.

- Information from The Bulletin.