Mid-Tier Home Prices Fell in 25 of 33 US Cities, With Austin Down 27%
Updated
Updated · WOLF STREET · Jul 17
Mid-Tier Home Prices Fell in 25 of 33 US Cities, With Austin Down 27%
3 articles · Updated · WOLF STREET · Jul 17
Summary
June data showed year-over-year declines in mid-tier home prices across 25 of 33 expensive U.S. cities, while only Chicago and New York City were at or near new highs.
Austin led the pullback at 27% below its 2022 peak and 5.0% lower than a year earlier; Oakland was down 25% from peak and 4.6% year over year, with Denver, Washington and Phoenix also posting notable retreats.
Most markets remain below prior highs: 28 of 33 cities were off their peaks, which were reached in 2022 for 17 cities, in 2024 for nine, and in early 2025 for Boston and San Jose.
A few cities bucked the trend. San Francisco jumped 9.5% from a year earlier, though it was still 8% below its 2022 high, while San Jose and Boston continued to slip from recent peaks.
The uneven correction follows the 2020-2022 housing surge, when many cities saw price spikes of 39% to 62%, leaving expensive markets now retrenching at different speeds.