Where home prices are falling
House prices fell over the last year in 49 of the 410 US metro areas the FHFA publishes. The median fall among them was -0.9%, and the largest was in Grants Pass, OR at -5.2%.
Federal Housing Finance Agency, All-Transactions House Price Index, data to 2026Q2. Index values are not dollar prices. They measure repeat-sales price change for a geography relative to its own base period. These are past changes, not a forecast. Source
Every falling metro, largest fall first
| # | Metro | 1 year | 5 year | 10 year |
|---|---|---|---|---|
| 1 | Grants Pass, OR | -5.2% | +2.88% | +5.52% |
| 2 | Ithaca, NY | -5.2% | +7.19% | +5.55% |
| 3 | Brunswick-St. Simons, GA | -4.9% | +8.21% | +7.07% |
| 4 | Oakland-Fremont-Berkeley, CA (MSAD) | -4.8% | +1.59% | +3.83% |
| 5 | Mansfield, OH | -3.64% | +8.43% | +7.8% |
| 6 | Pueblo, CO | -2.9% | +3.96% | +7.4% |
| 7 | Sherman-Denison, TX | -2.42% | +7% | +7.78% |
| 8 | Wenatchee-East Wenatchee, WA | -2.33% | +5.96% | +7.65% |
| 9 | Boulder, CO | -2.26% | +4.14% | +5.44% |
| 10 | Pinehurst-Southern Pines, NC | -2.24% | +9.14% | +7.23% |
| 11 | College Station-Bryan, TX | -2.23% | +7.32% | +6.1% |
| 12 | Rocky Mount, NC | -2.22% | +7.61% | +6.64% |
| 13 | Chico, CA | -2.09% | +2.49% | +5.38% |
| 14 | Napa, CA | -1.83% | +3.22% | +4.43% |
| 15 | Stockton-Lodi, CA | -1.75% | +3.41% | +6.04% |
| 16 | Rome, GA | -1.61% | +8.04% | +7.48% |
| 17 | Twin Falls, ID | -1.55% | +5.94% | +8.85% |
| 18 | Oxnard-Thousand Oaks-Ventura, CA | -1.34% | +5.17% | +5.26% |
| 19 | Hot Springs, AR | -1.31% | +6.95% | +6.45% |
| 20 | Helena, MT | -1.2% | +7.82% | +7.9% |
| 21 | Sioux City, IA-NE-SD | -1.13% | +6.91% | +6.16% |
| 22 | Dothan, AL | -0.99% | +7.34% | +5.49% |
| 23 | San Jose-Sunnyvale-Santa Clara, CA | -0.98% | +4.97% | +4.29% |
| 24 | Jonesboro, AR | -0.95% | +5.25% | +4.75% |
| 25 | Cape Coral-Fort Myers, FL | -0.9% | +5.03% | +6.29% |
| 26 | Albany, OR | -0.81% | +5.24% | +7.98% |
| 27 | Sierra Vista-Douglas, AZ | -0.81% | +6.88% | +7.02% |
| 28 | Houma-Bayou Cane-Thibodaux, LA | -0.78% | +3.16% | +2.41% |
| 29 | Prescott Valley-Prescott, AZ | -0.73% | +6.1% | +7.82% |
| 30 | Vallejo, CA | -0.67% | +2.72% | +5.07% |
| 31 | Port St. Lucie, FL | -0.59% | +7.73% | +8.65% |
| 32 | Bangor, ME | -0.54% | +9.25% | +7.52% |
| 33 | San Antonio-New Braunfels, TX | -0.53% | +5.27% | +6.04% |
| 34 | Everett, WA (MSAD) | -0.48% | +5.65% | +7.82% |
| 35 | Denver-Aurora-Centennial, CO | -0.46% | +3.96% | +6.05% |
| 36 | North Port-Bradenton-Sarasota, FL | -0.46% | +6.58% | +7.23% |
| 37 | Grand Island, NE | -0.38% | +7.68% | +6.6% |
| 38 | Las Cruces, NM | -0.38% | +7.24% | +6.06% |
| 39 | San Francisco-San Mateo-Redwood City, CA (MSAD) | -0.28% | +3.28% | +2.78% |
| 40 | Salem, OR | -0.22% | +5.01% | +7.54% |
| 41 | Punta Gorda, FL | -0.18% | +4.78% | +6.53% |
| 42 | Deltona-Daytona Beach-Ormond Beach, FL | -0.17% | +6.75% | +8.29% |
| 43 | St. George, UT | -0.13% | +5.32% | +7.93% |
| 44 | St. Petersburg-Clearwater-Largo, FL (MSAD) | -0.09% | +7.51% | +8.77% |
| 45 | Tuscaloosa, AL | -0.06% | +5.82% | +5.36% |
| 46 | Lake Havasu City-Kingman, AZ | -0.05% | +4.89% | +7.82% |
| 47 | Spokane-Spokane Valley, WA | -0.05% | +5.25% | +8.54% |
| 48 | Yuma, AZ | -0.02% | +7.09% | +7.26% |
| 49 | Merced, CA | -0.01% | +4.8% | +6.61% |
5 and 10 year figures are annualised. An index change, not a dollar price.
Falling metros by state
- California7 metros
- Florida5 metros
- Arizona4 metros
- Colorado3 metros
- Oregon3 metros
- Texas3 metros
- Alabama2 metros
- Arkansas2 metros
- CA (MSAD)2 metros
- Georgia2 metros
- North Carolina2 metros
- Washington2 metros
- FL (MSAD)1 metro
- Iowa1 metro
- Idaho1 metro
- Louisiana1 metro
- Maine1 metro
- Montana1 metro
- Nebraska1 metro
- New Mexico1 metro
- New York1 metro
- Ohio1 metro
- Utah1 metro
- WA (MSAD)1 metro
Rising markets are ranked on fastest growing and falling markets, and each quarter's release is summarised in the quarterly reports.
Common questions
Where are home prices falling in the US?
On the FHFA all-transactions index, house prices fell over the year to 2026Q2 in 49 of the 410 metro areas it covers. The largest fall was in Grants Pass, OR, at -5.2%. The full list is ranked on this page.
Are home prices falling in most of the country?
No. 361 of 410 metros recorded a rise over the same year, and 1 of 51 states recorded a fall (District of Columbia -0.59%). Figures are FHFA index changes to 2026Q2, not dollar prices.
Have these markets been falling for long?
Mostly not. 49 of the 49 falling metros still show positive annualised growth over five years, so the fall is within the last year or so. The 5 and 10 year columns show each one.