Home prices are falling fast in these U.S. cities

How U.S. home prices have changed over 10 years

As of April 2025, the median home sale price was $360,125, according to Zillow, 94% higher than the median price of $186,063 a decade earlier. While rising prices benefit current homeowners looking to sell, they make it harder for prospective buyers to enter the market. Today, purchasing a typical home requires an income of nearly $124,000 annually — a figure that’s out of reach for many.

The line chart below provides more insight into how U.S. home prices have changed over the past decade.

Where are home prices falling the most?

Only about one-fourth of the 180 cities on our list saw price drops over the past year. So why are home prices falling in these cities? And why are four out of the top five cities with the fastest-falling prices in Florida?

Jeff Lichtenstein, founder of the brokerage Echo Fine Properties, specializes in Florida real estate. “South Florida in the 25 years that I’ve resided here is always more volatile in terms of prices going up or down,” he told ConsumerAffairs. “However, over time, prices have [gone] up far more than other markets.”

Lichtenstein credits inflation, high insurance and condo assessment costs, and depreciating fixer-uppers for the momentary lull. Politics and the economy affect homebuying, too: “Areas like South Florida with more second home purchases (wants versus need) and hot political issues (think Canadians skipping buying season) … also have an impact.”

Below are the five cities where home prices fell fastest from April 2024 to April 2025.

1. North Port, Florida

North Port is home to the only natural warm spring in Florida, over 600 acres of parkland — and rapidly sinking home prices. Like many areas across Florida, North Port has been affected by hurricanes and tropical storms. In 2022, North Port homes and other buildings sustained major damage from Hurricane Ian.

Demand may be falling because of astronomical homeowners insurance costs. Insurers have raised prices due to the growing threat of severe weather and natural disasters, which leads to claims for wind and water damage.

• One-year price change: -10.3%
• Median sale price (April 2024): $477,229
• Median sale price (April 2025): $427,907

2. Flint, Michigan

The Flint water crisis has made headlines since 2014, when the Michigan city’s water supply was contaminated by high amounts of lead. More than 40% of samples in one 2015 study revealed water that contained over 5 parts per billion of lead, indicating an extremely serious problem.

Though efforts have been made since 2014 to rectify Flint’s water crisis, residents still worry about water safety. The city’s population decreased by about 22% between 2010 and 2024.

• One-year price change: -9.6%
• Median sale price (April 2024): $183,994
• Median sale price (April 2025): $166,414

3. Crestview, Florida

The county seat of Okaloosa County, Crestview earned its nickname, the “Hub City,” for its proximity to three major highways. At 235 feet above sea level, Crestview is also one of the highest points in Florida.

• One-year price change: -9.4%
• Median sale price (April 2024): $460,291
• Median sale price (April 2025): $417,125

4. Sebastian, Florida

Located on the Sebastian River, Sebastian is described by the county chamber of commerce as a “quaint riverfront fishing village” with beautiful lagoon views. Residents can fish in both the nearby river and the Atlantic Ocean.

Falling prices bring Sebastian’s median home sale price below the Florida median price of $378,666. If you’re looking for an adorable fishing cottage, the good news is it’s a buyer’s market in Sebastian.

• One-year price change: -7.9%
• Median sale price (April 2024): $408,591
• Median sale price (April 2025): $376,125

5. Punta Gorda, Florida

Punta Gorda is the fourth Florida city to rank in our top cities where home prices are falling the fastest. Worried about all the Sunshine State mentions on this list? Never fear. Florida still ranks among the top five states people are moving to in 2025. Plus, new residents may be able to take advantage of a buyer’s market.

• One-year price change: -6.1%
• Median sale price (April 2024): $319,650
• Median sale price (April 2025): $300,157

Cities with the fastest-rising home prices

“We’re seeing price growth cool off in many regions,” Novak, the analyst at PropertyChecker, explained, “but others, especially in the Southeast and Midwest, are still climbing steadily.” Whether it’s because of impressive amenities or the convenient location, home prices in these five U.S. cities are going up — fast.

1. Columbus, Georgia

Thinking about packing it all up and moving to Columbus, Georgia? This Southern city boasts white water rafting, major museums and 2,500 acres of beautiful gardens. It also has the fastest-rising home prices in the United States. Maybe homebuyers are getting into bidding wars over homes on Lake Oliver?

• One-year price change: 21.9%
• Median sale price (April 2024): $188,519
• Median sale price (April 2025): $229,885

2. Jackson, Mississippi

Jackson’s population actually decreased by 8% between 2020 and 2024. But the city’s home costs are quickly increasing. The median home sale price increased by almost 20% from April 2024 to 2025.

Though prices in Jackson are on the rise, this Southern city still offers a respite from the high cost of real estate elsewhere in the country. In April 2025, the median sale price was 30% lower than the median price across the U.S.

• One-year price change: 19.6%
• Median sale price (April 2024): $211,823
• Median sale price (April 2025): $253,338

3. Macon, Georgia

Macon, Georgia, is home to a whole lot of music history: Rock ’n’ roll legend Little Richard and soul star Otis Redding were both raised in Macon. Today, residents can visit many musical attractions in the city. Home prices in Macon have been rising over more than just the past year; from April 2019 to April 2025, the median sale price has gone up 38.9%.

• One-year price change: 17.2%
• Median sale price (April 2024): $141,237
• Median sale price (April 2025): $165,471

4. Reading, Pennsylvania

Reading has history dating back to 1733. Today it’s one of the five largest cities in the state — and its home prices are rising the fastest of anywhere in Pennsylvania. If Reading’s appreciating home market, great outlet shopping and historical charm convinced you to make a move, first find out how much house you can afford.

• One-year price change: 16.6%
• Median sale price (April 2024): $211,764
• Median sale price (April 2025): $247,019

5. Peoria, Illinois

Peoria is a multiple-time All-America City Award winner equidistant from Chicago and St. Louis. Located along the Illinois River, Peoria has a variety of parks, local festivals and even a self-guided “ale trail” tour featuring close to 30 local breweries.

Though the average home price in Peoria is rising quickly, it’s more affordable than in some areas of the state. Illinois’ median home sale price in April 2025 was $260,333, which is pricier than Peoria’s $144,875.

• One-year price change: 16.1%
• Median sale price (April 2024): $124,789
• Median sale price (April 2025): $144,875

Cities where home prices are falling (and rising) the most

Wondering whether buying a house is a good investment? Deciding when to put your home on the market? It’s always a good idea to analyze the data yourself. Explore the table below to learn more about rising and falling home prices in the United States.

Is it the right time to buy? Tips to help you decide

You may get caught up looking for the perfect time to buy a house. But the right time can be anytime, according to Novak. “For buyers, the key is to stop chasing the market and start focusing on long-term fit,” she explained. “If a home is affordable, meets your needs and you plan to stay for five years or more, trying to time the perfect 'bottom' is rarely worth it.”

Consider these tips to decide whether now is the right time to buy:

• Consider current interest rates. Inflation can lead to higher mortgage rates, which means borrowers pay more interest on loans.
• Check your credit. A good credit score will help you qualify for a lower interest rate on your mortgage, which means you’ll pay less in the long run.
• Be ready to pay for more than just the down payment. There are a lot of costs involved in homeownership — not just a down payment. Closing costs, insurance, real estate taxes and maintenance all add up.
• Look into first-time homebuyer programs. If you qualify, the Federal Housing Administration, the U.S. Department of Agriculture and the U.S. Department of Veterans Affairs all offer first-time homeowner loans and programs.
• Snag a seasonal deal. Housing markets tend to slow down during colder months, which means sellers may be more motivated to negotiate the purchase price. Braving the cold may be worth it for some extra savings.

Methodology

The ConsumerAffairs research team analyzed Zillow data on median home sale prices to determine where home prices are rising and falling the most across 180 of the largest U.S. metropolitan areas. We calculated the percentage change in median sale prices between April 2024 and April 2025 to create our ranking.

To provide additional context, we also measured pre-pandemic change (April 2019 vs. April 2025). These values were not included in the primary ranking but are used to contextualize and supplement our findings.

Reference policy

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Questions?

For questions about the data or if you'd like to set up an interview, please contact rsowell@consumeraffairs.com.