Top 10 U.S. Markets Where Home Prices Are Falling the Most

“Home Prices Are Falling in These 10 US Markets – Here’s Where You Can Save Big”

As the real estate market continues to soar with high home prices and mortgage rates, many homebuyers are on the lookout for ways to save money on their purchases. In a recent report by Realtor.com, it was found that there are certain markets across the country where home prices are actually falling, offering potential savings for savvy buyers.

Miami, once a hot spot for home prices, experienced the largest price decline with a 8.2% year-over-year drop in median home list price to $550,000 in February. The surge in home listings in the area contributed to this price drop, with a 37.4% increase in homes for sale compared to the previous year.

Other affordable Midwest markets like Oklahoma City, Cincinnati, and Kansas City, MO also saw price cuts due to the availability of smaller, cheaper homes on the market. Tech hubs on the West Coast like San Jose and San Francisco experienced price declines as the tech industry faced uncertainties and AI took center stage.

According to Realtor.com Chief Economist Danielle Hale, the influx of more affordable listings is helping to keep prices in check in these markets. She also emphasized the local nature of the real estate market, with different experiences depending on the location.

With falling home prices in markets like Miami, Cincinnati, Kansas City, and others, now might be the perfect time for homebuyers to make a move and save big on their dream home. Check out the full list of cities where home prices are falling the most on Realtor.com to find your next bargain.