Milwaukee Home Prices Decline - But at a slower pace than the national average

As reported by Zillow.com:

Median home values in the city of Milwaukee have dropped by 4.5% in the second quarter of 2008, compared to the year ago quarter. While this may sound like bad news it actually matches up favorably against the national average which was a 9.9% drop in values. The 4.5% drop in values inside the city also looks good in comparison to the drop in values in many of the suburbs and outlying communities. Elm Grove for example saw a drop of 4.9%. New Berlin saw a drop of 5% and Waukesha saw a drop of 6.9%. Pewaukee fared worst in the area with a drop of 7.4% in the median home value in the second quarter.

Overall Milwaukee and the greater metro area are doing better than the national market which stands to character as Southeastern Wisconsin's market is more moderate than most.