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Biggest Metro Area Home Price Decline Since 2022 Peak - NOLA and LC make the list

Posted on 5/9/25 at 8:33 am
Posted by stout
Porte du Lafitte
Member since Sep 2006
175629 posts
Posted on 5/9/25 at 8:33 am
-23.2% -> Austin, TX
-16.9% -> Punta Gorda, FL
-16.2% -> New Orleans, LA
-14.4% -> Lake Charles, LA
-12.2% -> Cape Coral, FL
-11.9% -> North Port, FL
-10.5% -> Boise City, ID
-10.2% -> Phoenix, AZ






Posted by SW2SCLA
We all float down here
Member since Feb 2009
22934 posts
Posted on 5/9/25 at 8:36 am to
Browsing Zillow in LC the past year has been eye opening. We decided to stay put for now. We wouldn't get close to our current rate either
Posted by bad93ex
Walnut Cove
Member since Sep 2018
30747 posts
Posted on 5/9/25 at 8:37 am to
The majority of my alerts from Redfin have been for price decreases.
Posted by CAD703X
Liberty Island
Member since Jul 2008
86772 posts
Posted on 5/9/25 at 8:39 am to
not in nashville; house prices keep going up here and its ridiculous given the latest property tax increases and general decline in how the city itself is being run.
Posted by stout
Porte du Lafitte
Member since Sep 2006
175629 posts
Posted on 5/9/25 at 8:40 am to
quote:

The majority of my alerts from Redfin have been for price decreases.


You have to use Realtor speak. They aren't price decreases. They are "discounts," or "new listing price," or "price improvement."


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Posted by stout
Porte du Lafitte
Member since Sep 2006
175629 posts
Posted on 5/9/25 at 8:41 am to
quote:


not in nashville; house prices keep going up here and its ridiculous given the latest property tax increases and general decline in how the city itself is being run.



You are neighbors with Scott Stapp. That alone increases your value Higher to a place where blind men see
Posted by tide06
Member since Oct 2011
16670 posts
Posted on 5/9/25 at 8:42 am to
That’s a bit deceptive in that some of the markets being listed as down increased 70-100%.

If a stock goes up 100% and declines 12% it’s still way up.

Rochester, NY declining during Covid and then recovering 12% paints a similarly deceptive picture without context.
Posted by AUin02
Member since Jan 2012
4416 posts
Posted on 5/9/25 at 8:42 am to
A house in my parents neighborhood recently sold for almost 100k over asking. Was shocked, I thought the days of those kind of bidding wars was over but apparently not for the right house.
Posted by PCRammer
1725 Slough Avenue in Scranton, PA
Member since Jan 2014
1640 posts
Posted on 5/9/25 at 8:43 am to
Gettin about time for that NE Alabama/NW Georgia lake house for a vacation home.
Posted by stout
Porte du Lafitte
Member since Sep 2006
175629 posts
Posted on 5/9/25 at 8:44 am to
quote:

That’s a bit deceptive in that some of the markets being listed as down increased 70-100%.


That's why the headline and tweet clearly say "since their 2022 peak"

Do they teach reading comprehension in Bama?

How far do you want to go back to say a house is still up? 10 years? 20 years? Yes we all know houses skyrocketed from 2020 through 2023'ish but this is data from peak values until now
This post was edited on 5/9/25 at 8:46 am
Posted by H2O Tiger
Delta Sky Club
Member since May 2021
6843 posts
Posted on 5/9/25 at 8:54 am to
#1 baby lets go!

Love that I bought in July 2022 right at the peak of the market
Posted by tide06
Member since Oct 2011
16670 posts
Posted on 5/9/25 at 9:01 am to
quote:

That's why the headline and tweet clearly say "since their 2022 peak" Do they teach reading comprehension in Bama?

My point is and remains that reporting on markets that boomed vs busted during COVID as a % inc/dec isn’t really apples to apples.

I agree that from everything I see down in FL there is a slow market bust underway where markets were built up way beyond what was sustainable from an affordability standpoint and many short term rental investors are going to go bankrupt unless rates go down so they can refi their COVID era ARMS if they bought and held.
Posted by BigPerm30
Member since Aug 2011
29395 posts
Posted on 5/9/25 at 9:02 am to
It’s weird because I’d assume property tax assessments would go down as well. Does that ever happen?
Posted by CAD703X
Liberty Island
Member since Jul 2008
86772 posts
Posted on 5/9/25 at 9:06 am to
quote:

You are neighbors with Scott Stapp. That alone increases your value Higher to a place where blind men see


not anymore. we moved again.

and scott is in williamson county..home of great schools and property tax half the cost of nashville

i'm the idiot that moved back to nashville b/c we found our dream house.
Posted by stout
Porte du Lafitte
Member since Sep 2006
175629 posts
Posted on 5/9/25 at 9:12 am to
quote:

My point is and remains that reporting on markets that boomed vs busted during COVID as a % inc/dec isn’t really apples to apples.


Yes, but you need some basis for comparison. The COVID boom was an anomaly, but it did happen. Ignoring it and comparing prices only to pre-2020 levels doesn’t accurately reflect the current market.


quote:

standpoint and many short term rental investors are going to go bankrupt


I honestly believe speculative investments drove a larger portion of the market increase than most people realize, and not just by the 'Airbnb bros.' There were tons of influencers promoting the 'cash-out refi' strategy, bragging on TikTok about owning '50 doors.' Now that rental prices are falling, the gap between mortgage payments and rental income is becoming unsustainable, especially since many have already spent the so-called 'profit' from those cash-out refis.

BTW, FNMA has admitted there was a lot of speculation mortgage fraud and are considering going after people. People were buying multiple properties to use as rentals and lied about it being their primary home to get better rates and a 3% down payment.

Time will tell if I am correct but I truly think speculation drove the price frenzy and not actual buyers.


This post was edited on 5/9/25 at 9:13 am
Posted by ronricks
Member since Mar 2021
9753 posts
Posted on 5/9/25 at 9:17 am to
quote:

stout


Its May of 2025 and there still has not been a housing 'crash'. How upset are you?
Posted by dgnx6
Member since Feb 2006
79061 posts
Posted on 5/9/25 at 9:18 am to
I cant speak for all areas but places like austin and nola recently changed short term rental laws.


I guess you can just do it without a permit and risk it. But I assume people will just sell instead.


In Austin they had to start collecting Hotel occupancy tax on strs.
This post was edited on 5/9/25 at 9:22 am
Posted by lsu xman
Member since Oct 2006
16394 posts
Posted on 5/9/25 at 9:18 am to
What's the data for BR?
Posted by McDonaldsBagMan
Member since Apr 2025
158 posts
Posted on 5/9/25 at 9:20 am to
quote:

not in nashville; house prices keep going up here and its ridiculous given the latest property tax increases and general decline in how the city itself is being run.



Nashville is the most overrated city in the country IMO
Posted by stout
Porte du Lafitte
Member since Sep 2006
175629 posts
Posted on 5/9/25 at 9:21 am to
quote:

Its May of 2025 and there still has not been a housing 'crash'. How upset are you?




Idiot


This post was edited on 5/9/25 at 9:22 am
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