How Much Are Home Prices Dropping in Cities Where Sellers Are Slashing Them?
After a housing market that has been so hot the past few years that people have been buying homes in cash and paying over the asking price, prospective homebuyers may finally be able to catch a break. Home prices are starting to slow down. And in some cities, those prices are coming down much more significantly than in others.
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To find the cities where sellers are slashing prices the most, GOBankingRates analyzed 95 of the largest U.S. metros to find where the largest shares of listings with price cuts are and how much those prices are being cut. Here's a look at how much home prices are dropping in the top 10 cities.
10. Jackson, Mississippi
Share of listings with price cuts: 20.89%
Average price cut: 4.71%
Median price cut: 3.60%
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9. Palm Bay, Florida
8. Rochester, New York
7. New Orleans
6. Buffalo, New York
5. Akron, Ohio
4. Toledo, Ohio
3. Tampa, Florida
2. Pittsburgh
1. North Port, Florida
This article originally appeared on GOBankingRates.com: How Much Are Home Prices Dropping in Cities Where Sellers Are Slashing Them?