- Home prices are falling in cities that saw large growth in recent years, according to Realtor.com.
- High monthly payments have dampened buyer demand creating room for negotiation at the closing table.
- Prices are falling in pandemic boomtowns like Austin, Texas; Ogden, Utah; and Boise, Idaho.
Prospective homebuyers waiting for prices to drop have something to be excited about. Listings site Realtor.com just put out a new ranking of where home prices are falling the most, compared to a year ago.
Cities like Ogden, Utah, and Boise, Idaho, that were heralded as boomtowns as remote workers from across the country flocked to locations with more outdoor space and less expensive homes, are now reversing the upward trend in housing prices. Other hotspots like Austin, Texas, and Myrtle Beach, South Carolina, saw drops of 2% or more.
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