10 US Housing Markets Likely to See Significant Price Drops by Q4 2024
Cities such as San Francisco and Honolulu topped the list due to their already high prices
June 17, 2024
Image: SvetlanaSF / stock.adobe.com
San Francisco topped the list due to its high barrier to entry.
While many U.S. housing markets continue to see elevated home prices, some markets are likely to see prices dip by the end of 2024. According to insight from Yahoo! Finance, cities that are expected to see a significant drop are ones that have seen home prices soar over the last several years. Larger cities, such as San Francisco and New York City, could see a drop in prices by more than 5% due to remote work trends allowing people to move farther away from pricy areas, says real estate agent Ben Johnson.
“The high cost of living, with outmigration and a trend where most tech companies are allowing some workers to work remotely, has seen San Francisco’s real estate market begin to fall,” he said. “Home values in the city could drop by an estimated 5%-10% by the close of the year.”
