This Chart Shows Where U.S. Housing Markets Prices Are Dropping Most

A decade-long seller’s market is coming to an end as housing prices plummet. This chart shows how much the market is down in 60 cities.

According to the American Enterprise Institute's Housing Center, home prices are finally declining after 10 years of a seller's market. The drop is the result of a marked increase in interest rates and constant quality home price appreciation, also called HPA, since January 2020.

Price Changes In The Largest Cities

The seller's market was extended by the limited supply of homes on the market, a sharp increase in remote work and investors seeking homes as long-term investments. However, AEI anticipates that this will change, predicting that the seller's market will end in 2023.