Cities Where Values Have Fallen the Most

While resetting rates are causing some foreclosures, falling home prices are also playing a big part in the real estate malaise.

Home owners who owe thousands more on their homes than they are currently worth find themselves unable to refinance and unable to sell at a price that will come close to covering what they owe on the mortgage.

However, according to ZipRealty, a real estate tracking firm that aggregates multiple listing service data, the decline may be reaching bottom with inventories starting to decline nationwide. Even in Sacramento and Las Vegas, inventory numbers have started to fall, if only marginally, ZipRealty says.

The following are the top 10 cities where prices have fallen the most in the last year, according to ZipRealty.

1. Sacramento, Calif.: - 18.5 percent
2. Las Vegas: - 17.2 percent
3. San Diego: - 17.1 percent
4. Tampa, Fla.: - 11.7 percent
5. Los Angeles: - 10.7 percent
6. Miami: - 10.6 percent
7. Phoenix: - 9.5 percent
8. Jacksonville, Fla.: - 8.7 percent
9. Detroit: - 7.7 percent
10. Atlanta: - 7.1 percent