Home prices have fluctuated over the past several years, with the housing market seeing dramatic upward swings following the pandemic housing boom to more recent declines as housing demand tapered off. Now, the housing market is seeing moderate price growth across the board, but variations still exist across local markets.

According to a report from the ResiClub blog, 64 of the nation’s 300 largest markets are still reporting price declines. Meanwhile, nationally aggregated home prices are up by 1.1% year-over-year as of July.

Which markets are experiencing price declines?

The markets seeing prices fall are still located predominantly in the Sunbelt. London, Ky., leads the way, recording a 5.44% decline year-over-year in July 2026. London, Ky., was followed by the Austin metro at 4.51%, Punta Gorda, Fla., at 4.41%, and then Cape Coral, Fla., at 3.99%.

How have home-price trends changed over the last few years?

Between July 2020 and July 2021, only four of the nation’s 300 largest recorded declining home prices. That grew steadily until peaking from July 2024 to July 2025, when 105 of the nation’s 300 largest housing markets saw prices decline. It has now come down to 64 of the largest 300 metros.