Home Values Drop In Major U.S. Cities As Market Balances

Tampa leads the nation with the steepest home value decline at 6.1%, bringing typical home prices to $361,115. Austin follows closely with a 6.0% drop to $437,456. Zillow reports “the real estate market has finally struck a balance between buyers and sellers” after years of rising prices. Florida and Texas dominate the decline list, representing seven of the ten worst-performing cities. Miami dropped 4.6% to $472,814, while Orlando fell 4.3% to $389,304. Other major declines include Dallas at 3.9% ($369,096) and San Francisco at 3.8% ($1,127,650). Cleveland bucked the trend with the largest increase at 4.7%, reaching $248,038. Hartford, Connecticut followed with 4.5% growth to $393,092. The shifts mark a significant change from years of spiking home prices nationwide. (Newser)