Key Findings

Home prices decreased across the board in Washington and Oregon. Some cities – like Kirkland, Bellevue, Redmond, and Sammamish – saw prices drop 11% to 12%. In Seattle, prices dropped by 8%. Home prices also declined across Oregon, including in Bend, Portland, Beaverton, Hillsboro, Eugene, Gresham, Salem and Medford.

Texas cities saw as much as 9.77% declines in home values. Leander, Pflugerville, and Cedar Park all had greater than 9% decreases. Austin homes also declined by 8.12%, while other cities including Fort Worth and Dallas saw smaller declines.

San Francisco home prices came down by as much as 15%. Two other California cities, Palo Alto and Dublin, saw similar drops. This puts home values in Dublin and San Francisco at about $1.27 million now, while Palo Alto homes average $3.16 million.

Home prices in the Phoenix area declined by 4.78% in the last year. As other Arizona areas saw mild growth, Glendale, Mesa, Avondale, Chandler, Peoria, Scottsdale, Tempe, Goodyear and Surprise home prices fell. Buckeye saw the largest price decline at an average of 7.69%.

Most Florida home prices went up, except in these two cities. These two Florida cities saw lower home prices this year. Cape Coral homes had more than a 5% drop in value over the past year, with the typical home value falling from $402,000 to $381,000. Palm Coast homes declined by nearly 2% in value, with a typical home value of $359,000 in May 2023. Meanwhile, homes in 37 other Floridian cities increased in value.

Only three northeast cities saw lower home prices this year. Pittsburgh and Philadelphia home values decreased by 1.4% and 1.1% since 2022, respectively. The typical home value in each is just over $221,000. Meanwhile, the price cut on Mount Vernon, NY homes was just 0.58%, to roughly $500,000.

https://www.yahoo.com/finance/news/u...130032481.html

god damn why did i buy during peak covid

Entire U.S. has house prices cooling off, except florida. Whats that tell you:this is a clown world phenomenon. Everyones trying to get out of **** lib cities and into freedomville. No surprise. **** cali, ny, Washington and errybody that look like em. Were full. Eat your own bad policies, cucks.

Prices in Florida will drop hard next year. I saw that Miami has 30,000 luxury apartments currently under construction. Hilarious to think that's all going to hit the market in a declining economy.

the future is hard to predict.

Not all that surprised to read that western states are seeing home prices declines, with the high crime, higher taxes seen there over the last few years.

You know there’s more to Florida than Miami right?

On average prices are up 2% in the last 22 months

Which means some states must have had some massive gains to overshadow the losses in others

Your property portfolio must be doing great OP!

“Reversion to the mean is found everywhere in the financial jungle, for the mean is a powerful magnet that, in the long run, finally draws everything back to it.” – John Bogle

Prices should be falling significantly where jobs are going away and industry is leaving. That's basically what drives demand.

why the big declines in places like Texas - Austin and Dallas???

Not as much population inflow, and they are both high property tax locations. So a lot of people simply can't qualify anymore for mortgages in this new lending environment.

Can confirm, Dallas prices are absolutely ridiculous. Especially with all time high interest rates

Yep, and a lot of the inflow was people from California, whose housing market has been in decline for a couple years now. So that money has dried up, and there are fewer cash buyers.

Fuark Palo Alto down to $3.16m for the average house, what a steal