Home Prices Dropped In Dozens Of Big U.S. Cities This Year. Here's Where.

CBS Bay Area

May 1, 2026

The real estate market is going through a reset in some parts of the U.S., with median sale prices in about one-third of major cities falling this year.

Median sale prices dipped in the first three months of 2026 in 39 out of the largest 129 cities across the U.S., with many located in Florida, California and Southwestern states, according to a report from real estate data company ATTOM. The biggest decline was in Florida's Cape Coral-Fort Myers region, where the median home sale price declined 9% to $341,250 in the first quarter compared with the year-ago period.

Many cities now experiencing price declines also saw big run-ups in home valuations during the pandemic, such as Austin, Texas. Other metro areas are struggling because of pressures from rising homeowners' insurance and property taxes, according to Jake Krimmel, senior economist at Realtor.com.

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