House prices have fallen in these ten cities

You may have heard that real estate is a sellers market right now.

However, in some cities housing is becoming more affordable.

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Housing prices dropping

In 2020 the number of homeowners increased by 2.1 million. The census found that this is the largest jump since 2003. This has caused a national housing supply to decrease a considerable amount. Read more about it here.

Homebuyers are also facing rising mortgages and inflation. Plus, spring is peak home buying season. The market is expensive but there are 10 areas that home prices are becoming more affordable.

1. Toledo, Ohio
   • Median listing price is $115,000
   • 18.7% decrease from last year
2. Rochester, New York
   • Median listing price is $149,000
   • 17% decrease from last year
3. Detroit, Michigan
   • New listings have increased by 6.7%
   • Median listing price is $75,000
   • 15.4% decrease from last year
4. Pittsburgh, Pennsylvania
   • Median listing price is $230,000
   • 13.7% decrease from last year
5. Springfield, Massachusetts
   • median listing price $239,000
   • 5.8% decrease from last year
6. Tulsa, Oklahoma
   • Median listing price is $200,000
   • 5% decrease from last year
7. Los Angeles, California
   • Median listing price is $985,000
   • 5% decrease from last year
8. Memphis, Tennessee
   • Median listing price is $173,500
   • 4.6% decrease from last year
9. Chicago, Illinois
   • Median listing price is $399,000
   • 3.7% decrease from last year
10. Richmond, Virginia
    • Median listing price is $310,000
    • 3.4% decrease from last year

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