Home Prices In These 4 Texas Cities Are Falling Quickly

Homes are expensive but the prices in these 4 Texas cities are falling faster than anywhere else in the state. We're not talking "poor, rundown" cities either.

According to realtor.com, the top 10 list of cities with the fastest, DROPPING home prices includes 3 in Texas.

If you expand the list to include the top 15, the lone star state racks up 4 cities where home prices are falling the fastest.

The list, which I found at kxan, rated the expected decline in home prices for cities all over the United States of America and Austin, Texas was the leader with home prices there expected to fall by 12.2%.

The other cities to make the top 10 were San Antonio with prices expected to fall by 9.4% and Dallas where prices are guestimated to drop by 8.4%. Expanding the list to the top 15 let Houston in on the action with an expected decline in home prices of 4.5%.

How Much Is The Average Home In America Today?

According to the National Association of Realtors (NAR), the price of a typical home in America skyrocketed to $410,200 in June, the second-highest recorded in 24 years. The median price cooled this October, dropping to $379,100, but that’s still 40% higher than in October 2019.

Realtor said the shift in housing affordability might inspire some first-time buyers to enter the market, but high mortgage rates could deter some current homeowners from moving. - KXAN

Bottom line; good news for first timers, same old-same old for current home owners. If you're interested, the Associated Press says the average 30 year mortgage interest rate in the USA currently is around 7.22%.