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Hawaii

Metro: Honolulu
What a Home Will Be Worth in 2012: $521,531
Q4 2008 price: $615,000
Projected price change by MSA: -15.2%
Projected price change by state: -15.2%

Honolulu's home prices have been falling fast this year as buyers retreat from high-priced real estate. Honolulu, the state capital, is famous for its sandy beaches, mountains, and sunny weather. It also has great Asian restaurants, a thriving arts scene, and hosts the NFL Pro Bowl and college football's Hawaii Bowl each year.

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