Good news for anyone shopping for a new home - prices are going down. According to a new report from Realtor.com, in more than half of the 50 largest markets in the U.S., median list prices have decreased year over year.
- Even better? They’re dropping in some of the most desirable places to live in the country.
- The metro area where home prices have gone down the most is Miami, Florida, where they’ve seen a year-over-year decrease of 12.4%.
- The Sunshine State claims four of the top 10 cities, but home prices are falling in the Midwest, the West and in other areas in the South as well.
The Top 10 Metros Where Home Prices Have Decreased the Most
- Miami, Florida - Median list price $525-thousand, 12.4% drop year-over-year
- Cincinnati, Ohio - Median list price $337-thousand, 9.5% drop year-over-year
- San Francisco, California - Median list price $997,500, 8.9% drop year-over-year
- Kansas City, Missouri - Median list price $389,500, 8.4% drop year-over-year
- Austin, Texas - Median list price $520-thousand, 6.6% drop year-over-year
- Jacksonville, Florida - Median list price $399-thousand, 6.1% drop year-over-year
- Denver, Colorado - Median list price $610,250, 6% drop year-over-year
- Orlando, Florida - Median list price $429,950, 5.6% drop year-over-year
- Tampa, Florida - Median list price $414,948, 5.5% drop year-over-year
- Nashville, Tennessee - Median list price $547,865, 5.4% drop year-over-year
Source: Realtor.com