Home prices are dropping in one-third of U.S. cities. Here's where.
Home prices have declined in about one-third of major U.S. cities in early 2026, particularly in Florida, California, and Southwestern states, according to ATTOM data. Many of these areas experienced sharp home price increases during the pandemic and are now seeing a market correction. Factors such as rising homeowners' insurance, property taxes, and hurricane-related risks are contributing to the downturn, especially in Florida.
- ▪Median home prices dropped in 39 out of 129 major U.S. cities in the first quarter of 2026, according to ATTOM.
- ▪The Cape Coral-Fort Myers area in Florida saw the largest decline, with prices falling 9% to $341,250.
- ▪Florida has the highest homeowners' insurance rates in the U.S., with averages reaching $8,292 annually in 2025.
- ▪Rising insurance costs and hurricane risks have led some Florida homeowners to sell due to unaffordable or canceled policies.
- ▪About half of Floridians surveyed in a November poll said they are considering leaving the state due to high living costs.
Opening excerpt (first ~120 words) tap to expand
MoneyWatch Home prices dropped in dozens of big U.S. cities this year. Here's where. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. Read Full Bio Aimee Picchi Updated on: May 1, 2026 / 8:53 AM EDT / CBS News Add CBS News on Google 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.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at CBS News — Top.
Discussion
0 commentsMore from CBS News — Top
