Ten Metros Where Home Prices are Falling

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Leave it to Realtor.com to identify the few places in America where prices are actually going down.  In fact, there are only 27 of the country’s 350 metros that saw price drops.   They do, however, point out that in each of these areas there was some sort of legitimate reason for the decline – whether it was from overbuilding, mass job losses, natural disasters, you name it. To come up with their top-10 list, Realtor.com compared two years of median list prices in the 350 largest metros areas over the 12-month periods of May 2016 to April 2017 and May 2017 to April 2018. With that data in hand, they ranked the areas with the largest price cuts.

“We are in a full-fledged housing boom, and home prices are skyrocketing. At a national level it is blue skies with no real big clouds on the horizon,” says Daren Blomquist, a senior vice president at the real estate information firm ATTOM Data Solutions. “But an act of God can stall a region’s housing market, something you can’t predict well: mudslides, wildfires, hurricanes…”

Their top ten metros here home prices are falling are:

  1. Santa Barbara, CA
  2. Pottsville, PA
  3. Napa, CA
  4. Austin, TX
  5. Beckley, WV
  6. College Station, TX
  7. Corpus Christie, TX
  8. Anchorage, AK
  9. Houma, LA
  10. Bismarck, ND

Click here to read the full story on Realtor.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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