Cities Where Home Prices Are Dropping the Most

Posted on

Photo: Laura Gangi Pond (Shutterstock)

Since it began in the spring of 2020, the COVID-19 pandemic has been affecting everything—including housing prices. Early on, several parts of the country had an influx of out-of-state buyers who were living in cities and looking for a bit more space. Their house prices went up, but recently, thanks to inflation and higher mortgage rates, homes in some areas are no longer commanding the record-breaking prices they were even a few months ago.

According to a report from Realtor.com, these are the 10 cities where sellers are reducing home prices the most.

1. Reno, Nevada

Median home list price: $677,500
Percentage of listings with price reductions: 32.6%

  • Between March 2020 and June 2022, house prices increased more than 30%

2. Austin, Texas

Median home list price: $620,000
Percentage of listings with price reductions: 32.4%

G/O Media may get a commission

  • Between March 2020 and June 2022, house prices shot up more than 66%

3. Phoenix, Arizona

Median home list price: $548,500
Percentage of listings with price reductions: 29.5%

  • Between March 2020 and June 2022, house prices increased more than 35%

4. Anchorage, Alaska

Median home list price: $436,00
Percentage of listings with price reductions: 28.5%

  • Between March 2020 and June 2022, house prices increased more than 36%

5. Boise, Idaho

Median home list price: $587,900
Percentage of listings with price reductions: 27.4%

  • Between March 2020 and June 2022, house prices increased more than 53%

6. Ogden, Utah

Median home list price: $580,100
Percentage of listings with price reductions: 27.4%

  • About 40 minutes outside Salt Lake City, but homes cost roughly $50,000 less

7. Sacramento, California

Median home list price: $642,500
Percentage of listings with price reductions: 25.2%

  • Between March 2020 and June 2022, house prices increased more than 22%

8. Colorado Springs, Colorado

Median home list price: $550,000
Percentage of listings with price reductions: 25.1%

  • About an hour outside Denver, but homes cost roughly $130,000 less

9. Evansville, Indiana

Median home list price: $246,000
Percentage of listings with price reductions: 24.7%

  • Between March 2020 and June 2022, house prices increased more than 43%

10. Medford, Oregon

Median home list price: $562,500
Percentage of listings with price reductions: 23.2%

  • Between March 2020 and June 2022, house prices increased more than 28%

Jasaseosmm.com Smm Panel is the best and cheapest smm reseller panel Buy Instagram Verified Badge for instant Instagram likes and followers, Buy Verification Badge, Youtube views and subscribers, TikTok followers, telegram services, and many other smm services. telegram, and many other smm services