House prices are falling in some US cities. Here’s where

• A new study by Realtor.com reveals that house prices are predominantly decreasing in southern and western cities.
• The July 2025 Monthly Housing Market Trends Report indicates that 33 of the top 50 metropolitan areas nationwide experienced a year-over-year price decline.
• While some regions see drops, the national median list price in July was recorded at $439,990, which is still slightly up compared to last year.
• Austin registered the most significant year-over-year price reduction, with its median list price falling by 4.9 per cent to $510,950. Other cities where prices have decreased include Miami, Chicago, Los Angeles, Denver, Phoenix, Sacramento, Nashville, Minneapolis and Cincinnati.
• This trend suggests a move towards more buyer-friendly market conditions in the South and West, marked by increased price cuts and properties remaining on the market for longer.

IN FULL

This is where house prices are dropping the most across the country, new study shows