Pandemic boomtowns like Austin, Texas; Boise, Idaho; and Phoenix are seeing big discounts.
Read on for the top 10 cities and how much home prices have declined in the past year.
This has led to some robust price cuts, especially in previously hot pandemic boomtowns — like Austin, Texas; Boise, Idaho, and Phoenix — where prices surged and homebuilders have been adding inventory.
The company analyzed the median price per square foot in 100 of the largest US metropolitan areas, and considered the change in prices in the year through May.
Take Austin, where the median home price has fallen 7.7% since May 2022 but is still $142,751 above the national median of $441,000.
Persons:
Realtor.com, —, Mark Zandi, There's, Danielle Hale, Austin
Organizations:
Service, Phoenix, Moody's
Locations:
Austin , Texas, Boise , Idaho, Myrtle Beach , South Carolina, North Port , Florida, Myrtle Beach