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The average experience in the 20 largest metropolitan areas is that July 2004 marks the dividing line between profit and loss.

If you bought a home in the following metropolitan areas, do you have a profit or a loss? 

Phoenix: If you bought before January 2005 then you probably have a profit.  

Los Angeles: If you bought before April 2004 then you probably have a profit. 

San Diego: If you bought before September 2003 then you probably have a profit.

San Francisco: If you bought before March 2004 then you probably have a profit.

Denver: If you bought before May 2004 then you probably have a profit.

Washington D.C.: If you bought before September 2004 then you probably have a profit.

Miami: If you bought before September 2004 then you probably have a profit.

Tampa: If you bought before January 2005 then you probably have a profit.

Atlanta: If you bought before February 2005 then you probably have a profit.

Chicago: If you bought before January 2005 then you probably have a profit.

Boston: If you bought before February 2004 then you probably have a profit.

Detroit: If you bought before January 1999 then you probably have a profit.

Minneapolis: If you bought before April 2003 then you probably have a profit.

Charlotte: If you bought before April 2007 then you probably have a profit.

Las Vegas: If you bought before March 2004 then you probably have a profit.

New York: If you bought before March 2005 then you probably have a profit.

Cleveland: If you bought before May 2002 then you probably have a profit.

Portland: If you bought before May 2006 then you probably have a profit.

Dallas: If you bought before March 2006 then you probably have a profit.

Seattle: If you bought before June 2006 then you probably have a profit.

The average buyer who purchased a house after the months noted above has a loss.

These conclusions are based on inspection of the S&P/Case Shiller Home Price Indices released on July 29, 2008, reflecting data through May. These conclusions reflect the average home, and there’s substantial variation around the mean.

Source: Home Prices in 20 Major Cities: You're OK If...