Home prices dropped in dozens of big U.S. cities this year. Here's where.

TL;DR

Median home sale prices fell in 39 out of 129 major U.S. cities in the first three months of 2026.
Florida's Cape Coral-Fort Myers region saw the largest decline, with a 9% drop in median home sale price.
Cities that experienced significant price run-ups during the pandemic are now seeing declines.
Rising homeowners' insurance and property taxes are pressuring some metro areas, especially in Florida.
Florida homeowners face the highest insurance rates in the U.S., with rates jumping 18% last year.
Some properties in Florida are becoming uninsurable or unaffordable due to insurance costs, leading to sales.
About half of Floridians are considering leaving the state due to high cost of living and housing affordability concerns.
In contrast, some Rust Belt cities like Detroit are seeing rising home prices.
The U.S. real estate market is shifting towards a more buyer-friendly environment with lower median prices and more homes available.
Mortgage rates are around 6.3%, lower than a year ago but higher than pandemic lows.

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