Although home prices rose nationally, there are some markets where home prices are falling. Miami experienced the largest price declines, with the median home list price falling 8.2% year over year.
Prospective homebuyers looking for a good deal - we've got some good news for you! Although home prices rose nationally 0.3% year over year in February to a median of $415,000, according to Realtor.com data, there are some markets out there where home prices are falling. "A lot of the inventory that’s coming onto the market is in a more affordable price tier," said Realtor.com Chief Economist Danielle Hale.
"When you have more affordable listings coming onto the market, it’s also going to push down the overall price."According to the data, Miami experienced the largest price declines, with the median home list price falling 8.2% year over year to a median price of $550,000 in February. Meanwhile, the number of homes for sale in the metro shot up 37.4% in February compared with the same month a year earlier.Two California cities made the top 10. Median home list prices in San Jose (#6) decreased 2.3%, while prices in San Francisco trended down 1.3%. SUGGESTED:Prices are also down in some of the nation’s priciest metros on the West Coast. Median home list prices slipped
Home Prices Market Affordable Miami California San Jose San Francisco
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