This is where house prices are dropping the most across the country, new study shows
House prices are falling in some US cities. Here’s where
- A new study by Realtor.com reveals that house prices are predominantly decreasing in southern and western cities.
- The July 2025 Monthly Housing Market Trends Report indicates that 33 of the top 50 metropolitan areas nationwide experienced a year-over-year price decline.
- While some regions see drops, the national median list price in July was recorded at $439,990, which is still slightly up compared to last year.
- Austin registered the most significant year-over-year price reduction, with its median list price falling by 4.9 per cent to $510,950. Other cities where prices have decreased include Miami, Chicago, Los Angeles, Denver, Phoenix, Sacramento, Nashville, Minneapolis and Cincinnati.
- This trend suggests a move towards more buyer-friendly market conditions in the South and West, marked by increased price cuts and properties remaining on the market for longer.