House Prices
Not every housing market is headed for the top. Cities both big and small are expected to see prices take a tumble over the next year. For buyers, this could mean opportunity, but for sellers, it’s a different story. Here’s a look at twenty markets where home values are projected to take the biggest hits.
Greenville, Mississippi: -16.7%
Greenville in Mississippi has a pretty steep projected price drop. Over the years the city has seen population declines and fewer jobs, making it tougher to sustain demand for housing. For buyers, though, Greenville might soon become one of the most affordable places in the country.
Clarksdale, Mississippi: -14.8%
Known for its blues history and the famous Devil's Crossroad, Clarksdale is less exciting when it comes to real estate. Prices are predicted to fall nearly 15%, which is a big blow for homeowners. For buyers, though, it could mean getting to buy up property for far less than you’d expect.
Pecos, Texas: -13.7%
Pecos has gone through housing booms before, especially when oil and gas were thriving. But things are slowing down, and home values are expected to drop almost 14%. Sellers might not like it, but buyers could see this as a chance to get in at a much lower price than last year.
Cleveland, Mississippi: -13.6%
And one more for Mississippi – insurance costs are really getting to it. Cleveland is a small college town with a lot of character, but its housing market is heading for a drop of over 13%. Fewer people moving in and slower job growth play a big role. Obviously, that’s very frustrating for people looking to sell there.
Bennettsville, South Carolina: -11.9%
Bennettsville is full of Southern charm, but that’s not enough to save its housing market. Prices are expected to fall nearly 12% in the next year. That could be a good thing for anyone looking to retire to South Carolina, though – Bennettsville has a lot to recommend it.
Opelousas, Louisiana: -11.5%
You may not have heard of Opelousas, but it’s full of Cajun and Creole culture and has some of the best food around. Home prices, however, are set to dip more than 11%. That could actually be great news for buyers, since it means you can enjoy Louisiana at a fraction of the price of bigger cities.
Raymondville, Texas: -11.5%
Raymondville, down near the southern tip of Texas, is expecting an 11.5% price dip. While sellers might groan, those looking to move might cheer, because this small town has a lot of appeal. It’s close to the Gulf Coast, has a relaxed pace of life, and there’s plenty of things to do.
Hobbs, New Mexico: -11.4%
Hobbs is tied to the oil industry, which means its housing market goes up and down. Prices are expected to drop about 11%, making it easier for buyers to get in. Do consider, though, that the New Mexico climate isn’t for everyone.
Morgan City, Louisiana: -11.3%
Morgan City’s prices are expected to fall more than 11%, but the town itself still has plenty of draw. Known as the “Shrimp Capital of the World,” it’s surrounded by pretty waterways and Cajun culture. For buyers, this could mean getting into Louisiana without the price tag of New Orleans – although prices there are falling too.
Indianola, Mississippi: -10.8%
Indianola, the hometown of blues legend B.B. King, is facing an 11% housing drop. While sellers may not be thrilled, buyers might love the chance to get in cheap. It’s a small town with friendly locals, a rich history, and of course a lot of music.
New Orleans, Louisiana: -7.2%
Lots of people dream of living in New Orleans. This city has energy like no other - jazz bands everywhere, world-famous food, and Mardi Gras parades that have captured the attention of the entire world. And now the city is looking at a 7% drop in home prices, which is tough news for sellers but could be music to buyers’ ears.
San Francisco, California: -6.1%
San Francisco’s sky-high housing market is expected to cool down with a 6% dip. That’s still pricey compared to most of the country, but any drop here is big news. After all, the city offers tech opportunities galore, making it a big draw for up-and-comers in that world.
Austin, Texas: -5.1%
Austin’s been booming for years, but home prices are expected to fall around 5% in the coming months. That’s a chance for buyers to get in on the city’s live music, tech jobs, and fun outdoor lifestyle without suffering a huge financial setback.
San Jose, California: -4.0%
San Jose is at the heart of Silicon Valley, and prices here have always been steep. Now with a projected 4% drop, homes are still expensive, but slightly less so. The city remains a hub for innovation, definitely the place to be if you want to help shape the future.
Honolulu, Hawaii: -3.8%
Even a paradise like Hawaii isn’t immune to a slowdown - Honolulu’s housing market is expected to drop nearly 4%. For most people, it’s still pricey, but any dip here is notable. This could be your chance to buy a home in Hawaii!
Denver, Colorado: -3.8%
Denver is bracing for about a 4% dip in housing prices. That’s not huge, but it could make homes a bit more affordable. The Mile High City offers mountain views, a thriving food and beer scene, and endless outdoor adventures – it’s definitely worth a look.
Sacramento, California: -3.7%
Sacramento’s housing market is expected to cool by nearly 4%, which could be welcome news for buyers even if it’s bad news for sellers. The city mixes California sunshine with a more relaxed pace and lower prices compared to nearby San Francisco.
San Antonio, Texas: -3.6%
San Antonio is seeing a projected 3.6% drop in housing prices. That’s a small decline, but it makes this already affordable city even more appealing. Granted, Texas has its controversies, but San Antonio is still considered a good place to live.
Portland, Oregon: -3.5%
Portland is a city beloved by many, and housing prices are set to fall about 3.5%. Buyers could soon enjoy the city’s outdoor beauty for a little less money. Definitely a good place to consider if you have a creative soul.
Washington, D. C.: -3.3%
Washington, D.C. (which is not a state!) offers world-class museums paired with some of the world’s most famous landmarks. For anyone who’s dreamed of living in the nation’s capital, this drop of 3.3% - not much, but still significant - could make the city slightly more within reach.
