The U.S. housing market is moving in very different directions depending on where you look. According to ResiClub’s analysis of the 50 largest metros, from June 2024 to June 2025 some cities saw home prices climb as much as 5%, while others experienced declines of up to 6%.

If you’re buying, selling, or investing in real estate, understanding these trends can help you make smarter moves.

Cities Where Home Prices Are Rising

Markets in the Midwest and Northeast are showing the strongest growth.

• Cleveland, OH led the nation with nearly 5% year-over-year growth.

• Hartford, CT; Louisville, KY; Buffalo, NY; and New York City all saw increases above 3%.

• Other metros with steady appreciation include Philadelphia, Providence, Kansas City, and Columbus.

These areas share common traits: more affordable housing, steady job markets, and less speculative activity, making them resilient even as interest rates remain high.

Cities Where Prices Are Declining

On the flip side, several Sun Belt and West Coast metros saw prices slip.

• Tampa, FL was the hardest hit with a 5–6% decline, followed by Austin, TX and Orlando, FL.

• Phoenix, AZ; Las Vegas, NV; San Francisco, CA; and Denver, CO also posted noticeable drops.

• Many of these markets experienced rapid pandemic-era price growth, and are now correcting as affordability challenges and oversupply weigh on demand.

What This Means for Buyers and Sellers

• For Buyers: If you’re looking in markets like Tampa, Austin, or Phoenix, you may have more negotiating power and see lower prices compared to a year ago.

• For Sellers: In appreciating markets like Cleveland or Hartford, demand is still strong, so pricing your home correctly could lead to multiple offers.

• For Investors: Watching regional trends is key. Steady Midwest and Northeast markets may offer long-term stability, while select Sun Belt cities could present discounted entry points for those willing to ride out short-term volatility.

Key Takeaway

The national housing market isn’t moving in one direction—it depends heavily on the local economy, affordability, and how much prices ran up in the last few years. If you’re planning to buy, sell, or invest, work with a local expert who knows your market’s specific trends.

Learn if Home Price Trends Vary by Market: Which Cities Are Rising and Which Are Falling at PolRealty.com

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