Home buyers cling to the notion that property values increase over time, making the long-term investment a lucrative one.
But prices have fallen so far during the past three years that homes in some unlucky neighborhoods are selling for less now than they did a decade ago, before the start of the historic housing boom.
Nine zip codes in Broward and Palm Beach counties had lower single-family median sales prices in July than they did in July 1999, according to an analysis by MDA DataQuick, a San Diego-based research firm.
Michael Keigans lives in the Deerfield Beach zip code of 33441, where the July median price was off 6 percent from 1999.
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