Some American cities are starting to see housing prices level off after years of steady increases. One of the easiest housing market thermometers to check is to find how many active listings had to slash prices before they sold. Find the regions where things are cooling off in the housing market.
Click through to see where home prices are plummeting — and find out if you call any of them home.
No. 5: Tulsa, Okla.
Tulsa is one of two Oklahoma cities to make the list, which is thanks in part to a slow statewide economy across the board. The median list price for a home is only $159,000 in Tulsa — and 19 percent of homes see a price cut before they leave the market. Be forewarned: Despite the price reductions, the cost of living in Tulsa is creeping up.
No. 4: Albuquerque, N.M.
Albuquerque — home of the International Hot Air Balloon Fiesta and AMC’s hit television series “Breaking Bad” — has seen a steady reduction in housing prices, indicative of a larger overall economic slide in the state of New Mexico. Median listing prices in the city are at $215,000 — but 19.5 percent of listings have price reductions before they get snatched up.
No. 3: Tampa, Fla.
One of two Florida cities to make the list, Tampa’s housing market is actually warming up, even though 19.5 percent of listings see a price cut. With a median list price of $287,895, prices jumped 11.3 percent in 2017 and are expected to do the same in 2018.
No. 2: Oklahoma City
The housing market in Oklahoma City is less than okay. Many of the same economic issues that affect Tulsa are also hitting OKC, but things seem a little less bleak for in the Sooner State’s capital. With a median list price of $181,530, only 0.1 percent of houses are expected to face foreclosure, but 19.6 percent of homes see a listing price cut.
No. 1: Saint Petersburg, Fla.
Topping the list is the retirement and vacation hotspot of Saint Petersburg. Even though tourism numbers haven’t declined, housing prices definitely have. With a median list price of $289,400, 20.03 percent of houses in St. Pete see a price cut before they are taken off the market.
Click through to keep reading about home prices across the country — and see if you’d be better off renting.