Home prices aren’t on the rise everywhere. In some cities, buyers have actually seen prices drop in recent months. Though the national median price for an existing single-family home reached a record high in the second quarter, a handful of metros saw the local median price decrease from a year ago, according to the National Association of REALTORS®. The 10 metros to post the largest year-over-year declines in median home prices are:
1. Springfield, Ill.
- Year-over-year price drop: -9.3 percent
- Price change: -$13,300 ($143,100 in 2016 to $129,800 in 2017)
- Year-over-year price drop: -6.2 percent
- Price change: -$10,700 ($173,500 to $162,800)
- Year-over-year price drop: -6 percent
- Price change: -$8,700 ($145,100 to $136,400)
- Year-over-year price drop: -5.6 percent
- Price change: -$7,200 ($129,600 to $122,400)
- Year-over-year price drop: -5.3 percent
- Price change: -$7,200 ($135,600 to $128,400)
- Year-over-year price drop: -4.4 percent
- Price change: -$12,000 ($274,900 to $262,900)
- Year-over-year price drop: -3.8 percent
- Price change: -$9,600 ($251,900 to $242,300)
- Year-over-year price drop: -3.5 percent
- Price change: -$4,000 ($115,600 to $111,600)
- Year-over-year price drop: -3.2 percent
- Price change: -$14,500 ($449,500 to $435,000)
- Year-over-year price drop: -3.2 percent
- Price change: -$5,300 ($168,100 to $162,800)
