Cities where house prices fall the most

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Since its beginnings in the spring of 2020, the COVID-19 pandemic has affected everything, including home prices. In the beginning, various parts of the country had an influx of out-of-state buyers who lived in cities and were looking for a little more space. Their house prices have been rising, but lately, thanks to inflation and higher mortgage rates, houses in some areas are no longer reaching the record prices they had even a few months ago.

According to a report from Realtor.comthese are the 10 cities where sellers are cutting home prices the most.

1. Reno, Nevada

Median house list price: $677,500
Percentage of ads with price reductions: 32.6%

  • Between March 2020 and June 2022, house prices rose by more than 30%

2. Austin, Texas

Median house list price: $620,000
Percentage of ads with price reductions: 32.4%

  • House prices rose by more than 66% between March 2020 and June 2022

3. Phoenix, Arizona

Median house list price: $548,500
Percentage of ads with price reductions: 29.5%

  • Between March 2020 and June 2022, house prices rose by more than 35%

4. Anchorage, Alaska

Median house list price: $436.00
Percentage of ads with price reductions: 28.5%

  • Between March 2020 and June 2022, house prices rose by more than 36%

5. Boise, Idaho

Median house list price: $587,900
Percentage of ads with price reductions: 27.4%

  • Between March 2020 and June 2022, house prices rose by more than 53%

6. Ogden, Utah

Median house list price: $580,100
Percentage of ads with price reductions: 27.4%

  • About 40 minutes outside of Salt Lake City, but homes cost about $50,000 less

7. Sacramento, California

Median house list price: $642,500
Percentage of ads with price reductions: 25.2%

  • Between March 2020 and June 2022, house prices rose by more than 22%

8. Colorado Springs, Colorado

Median house list price: $550,000
Percentage of ads with price reductions: 25.1%

  • About an hour outside of Denver, but houses cost about $130,000 less

9. Evansville, Indiana

Median house list price: $246,000
Percentage of ads with price reductions: 24.7%

  • Between March 2020 and June 2022, house prices rose by more than 43%

10. Medford, Oregon

Median house list price: $562,500
Percentage of ads with price reductions: 23.2%

  • Between March 2020 and June 2022, house prices rose by more than 28%

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