Home Prices Dropping in Overheated Markets

While home prices rose by 6.9% YOY at the national level in April 2019, this rate still marks the lowest new home price growth in five years, and one in five metropolitan areas is seeing decreases in home prices, according to Realtor.com data.

San Jose, Calif. has seen the steepest downward shift at -8.4%. Realtor.com attributes this to a tremendously overheated market – especially after last year, when the median list price soared 28%. The San Francisco metro area is the No. 5 overheated market at -4.1%

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