"Home Prices: The Rising and Falling Trends in 10 Cities"
TL;DR Summary
Home prices are falling in cities that experienced significant growth in recent years, as high monthly payments have dampened buyer demand. Pandemic boomtowns like Austin, Texas; Ogden, Utah; and Boise, Idaho, are now seeing a reversal in the upward trend of housing prices. With fewer transactions occurring, sellers are more willing to negotiate and lower their prices, providing potential savings for buyers. Realtor.com compiled a list of the 10 cities where home prices fell the most between August 2022 and August 2023, including Jackson, Mississippi, which experienced a decrease of -0.1% in median listing home price.
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