It’s official. Housing prices are back in the dumps. The modest rebound that began in late-2009, fueled mainly by a first-time-buyer tax credit, ran out of steam in late-2010 and reverted to a recession in the first quarter of the year, according to the S&P/Case-Shiller index.
Nationwide, average prices have sunk to levels not seen since 2002. But when it comes to real estate, it’s all about location, and some areas have seen their declines stretch back even farther, while a few lucky places have only had modest drops. Click on the infographic above to see a region-by-region breakdown of the double-dip recession showing exactly how far back home values have declined.