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10 Cities Where Home Prices Are Falling Most in 2023 – Yahoo Finance

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After a few years of unprecedented price hikes, buyers searching for a home will be thrilled to hear home prices are, indeed, falling across specific cities nationwide.

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To determine which cities are experiencing a drop in housing prices, Realtor.com looked at the median price per square foot in the 100 largest metropolitan areas. The median prices in May 2023 were then compared with May 2022 with price per square foot used as the most reliable metric for tracking home price movement.

Here are the 10 cities where home prices are falling the most in 2023.

Mlenny / Getty ImagesMlenny / Getty Images

Mlenny / Getty Images

10. Chicago

  • Median listing price: $376,000

  • Median listing price per square foot: $205

  • Change in year-over-year price per square foot: -1.1%

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Manny Chavez / Getty Images/iStockphotoManny Chavez / Getty Images/iStockphoto

Manny Chavez / Getty Images/iStockphoto

9. Sacramento, California

  • Median listing price: $662,875

  • Median listing price per square foot: $340

  • Change in year-over-year price per square foot: -3.4%

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DenisTangneyJr / Getty Images

8. Winston-Salem, North Carolina

  • Median listing price: $345,899

  • Median listing price per square foot: $148

  • Change in year-over-year price per square foot: -3.6%

©Shutterstock.com©Shutterstock.com

©Shutterstock.com

7. Pittsburgh

  • Median listing price: $238,250

  • Median listing price per square foot: $152

  • Change in year-over-year price per square foot: -3.9%

4kodiak / Getty Images/iStockphoto4kodiak / Getty Images/iStockphoto

4kodiak / Getty Images/iStockphoto

6. Salt Lake City

  • Median listing price: $635,000

  • Median listing price per square foot: $247

  • Change in year-over-year price per square foot: -4.0%

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©Shutterstock.com©Shutterstock.com

©Shutterstock.com

5. Sarasota, Florida

  • Median listing price: $549,900

  • Median listing price per square foot: $305

  • Change in year-over-year price per square foot: -4.7%

Pgiam / Getty Images/iStockphotoPgiam / Getty Images/iStockphoto

Pgiam / Getty Images/iStockphoto

4. Phoenix

  • Median listing price: $529,450

  • Median listing price per square foot: $274

  • Change in year-over-year price per square foot: -5.6%

Sean Pavone / iStock.comSean Pavone / iStock.com

Sean Pavone / iStock.com

3. Myrtle Beach, South Carolina

  • Median listing price: $366,075

  • Median listing price per square foot: $225

  • Change in year-over-year price per square foot: -7.3%

Read: Kevin O’Leary Says a Coming Real Estate Collapse Will Lead to ‘Chaos’ – Here’s What You Need To Know

Davel5957 / Getty ImagesDavel5957 / Getty Images

Davel5957 / Getty Images

2. Austin, Texas

  • Median listing price: $583,751

  • Median listing price per square foot: $276

  • Change in year-over-year price per square foot: -7.7%

knowlesgallery / Getty Images/iStockphotoknowlesgallery / Getty Images/iStockphoto

knowlesgallery / Getty Images/iStockphoto

1. Boise, Idaho

  • Median listing price: $609,875

  • Median listing price per square foot: $282

  • Change in year-over-year price per square foot: -7.8%

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