Home shoppers, don't despair. Bargains are out there, particularly in these pandemic boomtowns.
where homebuyers can finally see some deals. 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.
While most cities on Realtor.com's list have long been popular, a few others — like Myrtle Beach, South Carolina; and North Port, Florida — are lesser known but also saw an increase in real estate development throughout the pandemic. "There's actually a lot of building going on in the Myrtle Beach market," Danielle Hale, the chief economist at Realtor.com, told Insider."That is one reason we're not seeing the same price gains as other markets. We're actually seeing modest declines in the price per square foot."
However, just because home prices are falling in a metro doesn't mean it's a bargain. Take Austin, where the median home price has fallen 7.7% since May 2022 but is still $142,751 above the national median of. When moving to a new city, it's important to consider your personal finances as well as other factors such as employment, education and healthcare.
Keep reading to see the 10 US cities where home prices are falling the most, how home prices have fared in each metro since 2022, and their current median home values, according to Realtor.com data.
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