The housing market has seen prices grow mildly, with the ResiClub blog reporting a 1.1% increase year-over-year in June 2026. Some local housing markets are still recording a decrease in home prices, but the share of local markets experiencing declines has shrunk in the last year.

Of the 300 largest U.S. housing markets, 68 are experiencing a drop in home prices

While 68 markets experienced a decline in home prices from June 2025 to 2026, 110 of the nation’s largest 300 markets recorded an annual decline in home prices the year prior. Still, the share is up from the June 2023 to June 2024 window, when just 26 of the nation’s largest housing markets recorded a decrease in home prices.

Which markets are seeing the largest annual home-price declines?

Sunbelt markets that have maintained steady levels of inventory over the last few months are seeing home prices drop the most. At 6.23% year-over-year, London, Ky., saw the largest annual decrease in home prices, followed by Punta Gorda, Fla., at 6.15%, and then Austin, Texas, at 5.16%. With respective annual decreases of 5.02% and 4.03%, Cape Coral, Fla., and Sarasota, Fla., round out the top five.