The housing market remains buoyant across much of the country, with rising prices creating affordability concerns for potential buyers – even as some markets are seeing significant amounts of housing. price drops over the past month.
Data from Realtor.com found that nationally, the share of active listings with a price reduction was 16.7% in April – high compared to historical trends, but actually lower than a year ago as prices tended toward equilibrium.
Several markets in the Sun Belt and Mountain West regions experienced more frequent price declines than the national average, according to the data.
“Simply put, houses aren’t moving in these markets,” said Jake Krimmel, Realtor.com’s senior economist. “It’s down in part because sufficient supply but also anemic demand at current prices and interest rates. »
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Listed home price declines declined nationally last year but remain high, including in some large metropolitan areas. (iStock/Getty Images Plus)
Two of the metro areas also top Realtor.com’s report of top markets with price declines in April 2025, as Phoenix and Tampa had 31.3% and 29.3% of listings with price decreases last year, respectively.
“Why are these metros continually at the top of this list of price cuts? It’s probably both unrealistic expectations and wishful thinking, but the price cuts mean sellers are getting the message loud and clear,” Krimmel said.
Here’s a look at the five housing markets where price reductions were most widespread in April.
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Phoenix-Mesa-Chandler, Arizona Phoenix tops the list of metro areas benefiting from price drops. (Mario Tama/Getty Images)
Share of ads with price reduction: 29.1%Change over one year: -2.2 percentage pointsMedian list price: $499,000Tampa-St. Petersburg-Clearwater, Florida The skyline of downtown Tampa, Florida. (Joe Sohm/Visions of America/Universal Images Group via Getty Images)
Share of announcements with price reductions: 25.13%Change over one year: -4.2 percentage pointsMedian list price: $406,500CALIFORNIA HAS BUILT MORE HOUSES THAN PEOPLE IN SIX YEARS – SO WHY IS HOUSING STILL SO TIGHT?
San Antonio-New Braunfels, Texas San Antonio, Texas, had the lowest median list price among metros with the most list price declines. (Robert Alexandre/Getty Images)
Share of ads with price reduction: 24.95%Change over one year: -0.7 percentage pointsMedian list price: $324,700Denver-Aurora-Centennial, Colorado The Denver, Colorado skyline. (iStock)
Share of ads with price reduction: 24.35%Change over one year: -2.8 percentage pointsMedian list price: $587,000Portland-Hillsboro-Vancouver, Oregon and Washington The Portland, Oregon metro area – which includes Vancouver, Washington – is in the top five. (iStock)
Share of announcements with price reductions: 24.04%Year-over-year change: 0.7 percentage pointsMedian list price: $579,750GET FOX BUSINESS ON THE GO BY CLICKING HERE
