Not all cities are created equal, and some cities are certainly better than others when it comes to sports. The more major league sports teams a city has, the more a it has to offer to those who love the game. Additionally, the more successful a team, the happier its fans become. With this in mind, 24/7 Wall St. set out to identify the best cities for sports fans.

In order to decide which cities have the luckiest fans, we started with those that have at least two professional teams in or near the city. We then ranked each city based on the number of teams it has and the total number of sports the teams represented. We also factored in the popularity of the teams -- based on attendance and change in attendance -- the win-loss records of the teams in each city, and the number of championships each team won. (Click the gallery below.)

A good city for sports fans has to have lots of teams. And not just the number of teams matters, but also the diversity of sports they represent. A city has to have at least one team in each of the four major sports: hockey, baseball, football, and basketball. A city like Chicago, which has at least one team in each sport, is ranked higher than Los Angeles, which also has 6 sports franchises, but doesn't have an NFL team.

Arguably, nothing is more important to sports fans than winning. 24/7 awarded points to a city for each team that had a win-loss in the top 50 percent of its league. The New England Patriots earn Boston a point for having won three games for every one it lost over the last 10 seasons. Neither of New York's two basketball teams -- the Nets nor Knicks -- earned a point in this category, because their 10-season records are in the bottom half compared to the rest of the NBA. We also awarded points for each championship won by a team in the past 10 years.

Finally, a good community of fans is also necessary. We awarded points for cities where home game attendance increased significantly in the past 10 years. The Detroit Tigers, whose annual home attendance increase by more than 1 million fans between 2002 and 2011, earned a point. On the other hand, the St. Louis Cardinals' attendance declined, not earning the city a point, despite the fact that attendance in 2011 was higher than in Detroit. A city also ranked better if teams regularly sold at or above capacity over the course of the year.

More from 24/7 Wall St:
10 Cities Crushed by the Global Recession
Eight Brands that Wasted the Most on the Super Bowl
The 10 Most Educated Countries in the World

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WASHINGTON - U.S. home prices fell for a third straight month in nearly all cities tracked by a major index. The declines show that most homeowners are not reaping the benefits from some signs of an improving housing market.

Prices dropped in November from October in 19 of the 20 cities tracked, according to the Standard & Poor's/Case-Shiller home-price index released Tuesday. The steepest declines were in Atlanta, Chicago and Detroit. Phoenix was the only city to show an increase.

The declines partly reflect the typical fall slowdown after the peak buying season.

Still, prices fell in 18 of the 20 cities in November compared to the same month in 2010. Only Washington and Detroit posted year-over-year increases.

Prices in Atlanta, Las Vegas, Seattle and Tampa fell to their lowest points since the housing crisis began. And prices have fallen 33 percent nationwide since the housing bust, to 2003 levels.

"The trend is down and there are few, if any, signs in the numbers that a turning point is close at hand," said David M. Blitzer, chairman of the S&P's index committee.

The Case-Shiller index covers half of all U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The November data are the latest available.

Home values remain depressed despite some hopeful signs at the end of last year.

Sales of previously occupied homes rose in the last three months. Homebuilders are more optimistic after seeing more people express interest in buying this year. And home construction picked up in the final quarter of last year, which helped housing contribute to broader economic growth.

Home prices tend to follow sales, which are still below healthy levels. And a large number of vacant homes are sitting idle on the market, which means prices will likely stay unchanged for several years, said Paul Dales, senior U.S. economist at Capital Economics.

"The most likely scenario in the U.S. is that in 2012 prices will bob around a bit, with one month's gain being reversed the next month," Dales said. "But in general, over the next couple of years, house prices will do nothing more than remain broadly stable."

Dales said prices might not rise consistently until 2015. He said lower unemployment and better pay raises are essential to a full housing rebound.

Among other improvements needed:

- The supply of homes for sale must decline further. The inventory fell in November to a seven-month supply, although a healthy supply is about six months.

- Sales need to rise consistently and more first-time buyers must drive the increases. First-time buyers stay longer and invest in their homes, which helps neighboring home values rise.

- More young people and immigrants must buy. Declining immigration and a rise in renting has hampered home sales.

- More than a million homes at risk of foreclosure must be cleared from the market. Many are in limbo because a government investigation into questionable mortgage lending practices, which has dragged on for more than a year.

- Banks must further loosen lending requirements.

Conditions are improving for those in position to buy a home. Job growth is up, prices are down, mortgage rates are at record lows and rental prices have risen sharply since the housing bust.

Still, many people can't afford to buy or are unable to qualify for mortgage. Some people in position to buy are holding off, worried that prices could fall even further.

Many economists say the U.S. could be experiencing what similarly occurred in Britain in the 1990s, when it took four years for home prices to rise again after falling prices left homeowners with little financial equity in their homes.

Copyright 2012 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.

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In the wake of the housing crisis, the number foreclosures has skyrocketed as depressed real estate prices and subprime mortgages continue to push millions of borrowers into default. As of Dec. 31, banks owned nearly 700,000 homes. Hordes more are on pace to join that enormous inventory, with 700,000 homeowners in some state of foreclosure.

Jumping nearly fourfold since the peak of the housing boom, foreclosure sales accounted for 20 percent of total sales in the country between July and September of last year. While the vacant properties represent loss and hardship for many, the massive supply might offer some current buyers the deal-of-a-lifetime.

In fact, according to data from RealtyTrac, on average, foreclosed homes sold for 34 percent below their market value between summer and early fall of last year. In some pockets of the country, that number was significantly higher. The foreclosure discount in Trenton, N.J., for example, clocked in at a staggering 67.89 percent.

Using data calculated by RealtyTrac, AOL Real Estate brings you a mix of houses in cities that offer some of the steepest foreclosure discounts in the country.

Click the gallery below to see everything from foreclosed mansions (pictured above) to first-time-homebuyer gems.

Also see:
Report: Foreclosures Down, But Discounts Abound
Open Houses of the Week: Jan. 27-29

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Find rentals in your area.

View the original article here