Top 10 Cities where Home Prices are Dropping Right now

A new report from Zillow shows that sellers are cutting the price on houses in the Fall of 2023. With some big price drops occurring across the real estate market in these 10 Cities.

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10. BOISE, ID - home prices in Boise are down by 15% from peak and likely have further to fall due to remote workers getting called back into the office.

09. DALLAS, TX - 33% of sellers in the Dallas Real Estate Market are cutting the price, with home builders cutting the price aggressively in many areas, particularly in the northern suburbs

08. SARASOTA, FL - Sarasota's Housing Market boomed during the pandemic, but now a decline in vacation home-buying has sent inventory surging and prices heading down.

07. SEVIERVILLE, TN - the Airbnb Collapse is hitting Sevierville and Eastern Tennessee hard, with many short-term rental operators now losing money on their rental and opting to sell their house with big price cuts.

06. NASHVILLE, TN - the local Airbnb market in Nashville is slowing which is resulting in a big increase in sellers price cuts in certain neighborhoods. There is also a big slowdown occurring in the luxury market.

05. PHOENIX, AZ - the Phoenix Housing Market had a small recovery in mid-2023, but now that recovery is reversing, home prices are dropping again. Especially in Tempe and Gilbert.

04. SAN ANTONIO, TX - inventory on the San Antonio Housing Market has surged over the last two years, back above the long-term average, which is now causing home prices to drop.

03. PENSACOLA, FL - a big surge in Homes for Sale across the Pensacola Real Estate Market is causing sellers to begin to cut the price.

02. SAN FRANCISCO, CA - the Housing Crash in San Francisco is getting so severe that some sellers are now selling their homes for $100-200k less than they bought it for.

01. AUSTIN, TX - home prices on some listings on Austin have dropped by over 25% as the market continues to crash, with nearly half of sellers reducing the price of their house.
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