U.S. Cities Where Median Listing Prices Have Cooled

A year-over-year analysis of 10 U.S. housing markets with cooling median listing prices reveals cities that are in transition from natural disasters, cities in the midst of building and economic booms, and cities where cheaper homes are hitting the market.

Four of the ten markets are in Texas, including the top two, San Antonio and Austin, respectively. San Antonio's median listing price is down 5.6 percent YOY to $269,499. Trulia's study suggests that wages, falling 2.6 percent, may have had a cooling effect on housing, or perhaps that cheaper homes hitting the market are drawing down the median overall. Houston, ranked seventh, was said to be in transition after Hurricane Harvey damaged much of its housing stock. "Houston ranked second nationally in terms of building permits issued last year with more than 42,000, and most of that was before Hurricane Harvey."

Honolulu is the most expensive market on our list, and it’s a traditionally hot housing market in boom times. That said, it appears Honolulu has stabilized. The estimated median home value rose only 7.5 percent. And the home listed for sale? They’re about $40,000 less than the value of the median home (by estimated value) in the market. And this despite wages rising 5.6 percent, nearly double the national average.

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