US Cities Seeing Most Cuts in Home Prices

In Boise, Idaho, 61.5 of homes on the market saw a reduced price in June
By Arden Dier,  Newser Staff
Posted Jul 16, 2022 10:00 AM CDT
US Cities Seeing Most Cuts in Home Prices
This Sept. 25, 2019, photo shows a sign indicating a new selling price for a house sits atop a realtor's sign in Jackson, Miss.   (AP Photo/Rogelio V. Solis)

The pandemic saw house prices soar across the country, but higher interest rates and increasing supply are now helping cool the previously red-hot real estate market in many areas. If you're looking to buy now, you're likely to find that prices have been reduced from the original listing in certain major cities. Redfin surveyed 97 US metropolitan areas to find those with the highest percentage of homes that saw a price drop in the month of June, per CNBC. The top 10:

  1. Boise, Idaho: 61.5% of homes on the market saw a price drop in June.
  2. Denver, Colorado: 55.1%
  3. Salt Lake City, Utah: 51.6%
  4. Tacoma, Washington: 49.5%
  5. Grand Rapids, Michigan: 49.3%
  6. Sacramento, California: 48.7%
  7. Seattle, Washington: 46.3%
  8. Portland, Oregon: 45.7%
  9. Tampa, Florida: 44.5%
  10. Indianapolis, Indiana: 44.1%
Click for the full list, on which the very last city is El Paso, Texas, where only 13% of homes saw a price drop. (Or see the best and worst US cities in which to raise a family.)

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