Home Prices Decline in 33% of US Metros

Home prices in the U.S. grew by 0.4% year-over-year as of January 2026, but in some metros, home prices are actively declining. According to the ResiClub blog, 99 of the nation’s 300 largest housing markets, or about 33%, saw home prices decline year-over-year in February.

Despite a decline from the prior month, the share of markets with falling prices has grown steadily over the past year

In January 2025, just 31 of the nation’s 300 largest markets saw home prices decline year-over-year. Since then, the share of metros with declining prices has slowly crept upward until reaching a peak in June 2025 when 110 of the nation’s 300 largest housing markets posted year-over-year declines. The share of markets with falling prices has remained high but has steadily declined since that point. As of January 2026, 100 of the nation’s 300 largest housing markets recorded a year-over-year decline, and in February, the share dropped to 99 of the 300 largest housing markets.

Which markets are seeing the strongest price declines?

The Sun Belt and Mountain West continue to post the steepest year-over-year declines in home prices. Florida, in particular, is home to a number of metros where home prices are falling. Punta Gorda, Fla., posted a 11.23% year-over-year decline in home prices in February; followed by Cape Coral, Fla., which saw prices fall by 8.57%; and then Sarasota, Fla., which recorded a 6.89% decline in home prices.