Geographic Area YoY Peak to Now Peak to Trough Trough to Now Months since peak Months since trough Atlanta 5.7% -8% -36% 44% 105 49 Boston 4.3% 0% -20% 25% 127 85 Charlotte 3.9% 0% -20% 25% 104 50 Chicago 2.7% -23% -39% 26% 115 49 Cleveland 4.1% -12% -24% 15% 117 50 Dallas 8.4% 24% -11% 39% 106 86 Denver 8.5% 24% -14% 45% 116 86 Detroit 6.9% -18% -49% 61% 124 60 Los Angeles 5.7% -12% -42% 51% 115 83 Las Vegas 5.8% -38% -61% 60% 116 49 Miami 5.8% -27% -51% 50% 112 60 Minneapolis 5.0% -14% -38% 39% 115 61 New York 3.2% -16% -27% 14% 118 49 Phoenix 6.1% -31% -56% 57% 118 55 Portland 10.7% 2% -31% 47% 105 49 San Diego 5.9% -13% -42% 51% 125 84 Seattle 9.6% -3% -32% 42% 105 50 San Francisco 8.8% 0% -46% 85% 119 85 Tampa 7.0% -26% -47% 41% 117 50 Washington DC 2.2% -16% -34% 27% 119 85 10 City Aggregate 4.7% -13% -35% 35% 118 49 20 City Aggregate 5.4% -12% -34% 34% 117 49 Exhibited by TCW from S&P, and FHFA Data 89 .