According to Latio real estate company, apartment prices in Riga declined by another 3.8% in July. Combined with declines in previous two months, this means the prices are 8% below the peak level in April.
On the other hand, the prices are still 4% above December 2006 level and 29% above July 2006. So, housing in Latvia remains quite expensive, compared to local incomes.
Another real estate company, Balsts, reports smaller declines of 1% compared to June and 5% compared to April. I'm still browsing the apartment ads in the case I return to Latvia soon and my impression is that Latio's estimates are the more accurate ones.