BELOW SUPERNAV drop zone ⇩

10 housing markets that are overdue for a price drop

Bend, Oregon, is the metro area most likely to see a drop in home prices, according to CoreLogic’s analysis. (Photo: Getty Images)

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

ovp test

mLife Diagnostics LLC: Oral Fluid Drug Testing

Male shot by female at Shreveport apartment

Class to create biodiverse backyard

Rules for outbursts at Caddo School Board Meeting

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

This is the total amount you're borrowing from the bank.
This is the yearly interest rate on your loan.
This is how long you'll take to repay the loan.
This is the yearly tax you pay on your property.
This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

AUTO TEST CUSTOM HTML 20241114185800

AUTO TEST CUSTOM HTML 20241115200405

AUTO TEST CUSTOM HTML 20241118165728

AUTO TEST CUSTOM HTML 20241118184948

(NEXSTAR) — Between high prices and high-interest rates, there hasn’t been much good news for would-be homebuyers lately. But new data from CoreLogic, a financial analytics company that tracks real estate markets around the country, has a glimmer of hope for those looking to buy in 10 U.S. cities.

Real estate has been red-hot the past year. CoreLogic found in its most recent analysis that prices jumped more than 18% nationwide from June 2021 to June 2022. And some states saw prices jump by even more — Tennessee saw an increase of 25.8%, and Florida saw whopping 31.8% year-over-year price growth.

CoreLogic expects a much cooler year ahead, forecasting prices around the country to go up about 4% by June of next year.

“Though annual appreciation was still strong, it slowed from the previous month for the second consecutive month, reflecting reduced buyer demand in part due to higher mortgage rates and worries about a slowing economy,” the report reads.

In some areas, the analysts are actually expecting prices to fall. CoreLogic told Nexstar it expects the below 10 metro areas to see price drops over the next year. (The list is ranked with the highest risk of price drops at the top — not necessarily the largest drops.)

  1. Bend-Redmond, Oregon
  2. Longview, Washington
  3. Bremerton-Silverdale, Washington
  4. Bellingham, Washington
  5. Boise, Idaho
  6. Mount Vernon-Anacortes, Washington
  7. Grants Pass, Oregon
  8. Coeur d’Alene, Idaho
  9. Crestview-Fort Walton Beach-Destin, Florida
  10. Olympia-Tumwater, Washington

Northwestern states dominate the list, with several areas in Oregon, Washington and Idaho ranking in the top 10.

The only non-Northwestern locale included in the top 10 is the Florida panhandle metro area, including Crestview, Fort Walton and Destin. The median home price in the city of Destin is $655,000, according to Zillow data. But if CoreLogic’s forecast pans out, a beachside home there could soon be just a bit cheaper.

Your Money

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

AUTO TEST CUSTOM HTML 20241119133138

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Fog

la

51°F Fog Feels like 51°
Wind
3 mph NNE
Humidity
89%
Sunrise
Sunset

Tonight

Cloudy. Low 52F. Winds light and variable.
52°F Cloudy. Low 52F. Winds light and variable.
Wind
3 mph SW
Precip
24%
Sunset
Moon Phase
Waning Crescent