Home prices are tumbling in a handful of pandemic boomtowns, thanks to a buildup of inventory that's beginning to exceed the level of demand.
Home prices have dropped as much as 12% in metros throughout the US, according to data from Realtor.com. That's a steeper decline compared to the rest of the country, with the national median home price falling just 1% year-over-year in September, the real estate listings site said in a report.
Demand in some pandemic boomtowns has fallen over the past year, as states like Florida and Texas see issues like a rising cost of living, weather events, and tense political climates that have caused some residents to sour on the state.
Top 10 cities where home prices are falling the most, according to Realtor.com includes Miami-Florida, Cincinnati-Ohio, San Francisco- California, Kansas City-Missouri, Austin-Texas, Jacksonville-Florida, Denver- Colorado, Orlando- Florida, Tampa-Florida and Nashville-Tennessee
