Where Are Home Prices Plummeting Most?

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If the housing market has felt like an ongoing nightmare to potential homeowners over the last couple of years, this headline offers a bit of respite. According to Realtor.com, there are 10 cities across the United States where home prices are starting to fall.

Read: States Whose Economies Are Failing vs. States Whose Economies Are Thriving
Also: Should You Still Buy a Home in Today’s Market?

The reason for this decline? Realtor.com said higher mortgage interest rates have thinned out the ranks of buyers who qualify for a home loan. Higher mortgage interest rates have also reduced the price of homes those remaining in the market can afford. As a result, homes are now on the market longer and inventory is beginning to pile up again across the cities reflected in our GOBankingRates infographic. 

Here’s a look at the top 10 cities where home prices are steadily plummeting, ending with a popular city experiencing the largest housing market price decrease.

Spokane, Washington

Durham, North Carolina

Stockton, California 

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Las Vegas, Nevada 

Denver, Colorado

Ogden, Utah

Charleston, South Carolina

Palm Bay, Florida

Phoenix, Arizona

Austin, Texas

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