The 50 Worst Housing Markets in the US for Growth – MASHAHER

When buying a home — be it to live in or to rent out to generate passive income — it’s important to know your local housing market conditions. Is it strong, stable and growing? Are mortgage rates decent? Or is it in an irreversible slump?

GOBankingRates determined the 50 worst housing markets in the U.S. for growth. To do this, we looked at the 200 largest metro statistical areas (MSAs) according to the real estate market and found the one-year percentage change in home value, the two-year percentage change in home value, the mean days from pending to close, the share of listings with a price cut and the mean price cut.

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Here are some key findings:

• Austin ranks as the worst housing market in America. Most notably, two-year home values have dropped nearly 18%.

• The second-worst housing market for growth is New Orleans.

• Other Texas markets are also struggling, including, but not limited to, Longview, Laredo and Dallas.

• Five of the 10 worst housing markets are in Florida. Among these are North Port, Cape Coral and Crestview.

Read on for details on the 50 U.S. housing markets that are the worst for growth.

50. Salinas, California

• June 2024 home value: $844,402

• One-year home value change (percentage): 6.04%

• Two-year home value change (percentage): 1.59%

• Mean price cut: $80,737

• Share of listings with price cut: 20.39%

• Mean days to close: 29

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49. Orlando, Florida

• June 2024 home value: $399,253

• One-year home value change (percentage): 3.22%

• Two-year home value change (percentage): 5.26%

• Mean price cut: $14,907

• Share of listings with price cut: 29.30%

• Mean days to close: 34

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48. Baton Rouge, Louisiana

• June 2024 home value: $240,017

• One-year home value change (percentage): 1.66%

• Two-year home value change (percentage): 3.60%

• Mean price cut: $11,512

• Share of listings with price cut: 26.01%

• Mean days to close: 34

47. Eugene, Oregon

• June 2024 home value: $455,582

• One-year home value change (percentage): 1.32%

• Two-year home value change (percentage): -0.71%

• Mean price cut: $20,297

• Share of listings with price cut: 24.29%

• Mean days to close: 30

46. Shreveport, Louisiana

• June 2024 home value: $174,384

• One-year home value change (percentage): 4.06%

• Two-year home value change (percentage): 0.15%

• Mean price cut: $11,597

• Share of listings with price cut: 26.00%

• Mean days to close: 34

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45. Reno, Nevada

• June 2024 home value: $548,869

• One-year home value change (percentage): 4.64%

• Two-year home value change (percentage): -5.47%

• Mean price cut: $26,683

• Share of listings with price cut: 23.18%

• Mean days to close: 32

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44. Salisbury, Maryland

• June 2024 home value: $423,739

• One-year home value change (percentage): 2.27%

• Two-year home value change (percentage): 3.37%

• Mean price cut: $21,070

• Share of listings with price cut: 26.53%

• Mean days to close: 37

43. Jackson, Mississippi

• June 2024 home value: $197,464

• One-year home value change (percentage): 0.78%

• Two-year home value change (percentage): 3.11%

• Mean price cut: $11,977

• Share of listings with price cut: 25.04%

• Mean days to close: 36

42. Longview, Texas

• June 2024 home value: $218,205

• One-year home value change (percentage): 0.30%

• Two-year home value change (percentage): 5.59%

• Mean price cut: $12,216

• Share of listings with price cut: 24.49%

• Mean days to close: 26

41. Greeley, Colorado

• June 2024 home value: $500,073

• One-year home value change (percentage): 0.72%

• Two-year home value change (percentage): -4.39%

• Mean price cut: $16,690

• Share of listings with price cut: 22.94%

• Mean days to close: 31

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40. San Francisco

• June 2024 home value: $1,180,321

• One-year home value change (percentage): 5.04%

• Two-year home value change (percentage): -7.27%

• Mean price cut: $69,905

• Share of listings with price cut: 17.62%

• Mean days to close: 23

39. Laredo, Texas

• June 2024 home value: $206,726

• One-year home value change (percentage): -3.38%

• Two-year home value change (percentage): 0.60%

• Mean price cut: $10,330

• Share of listings with price cut: 16.13%

• Mean days to close: 28

38. Ogden, Utah

• June 2024 home value: $498,019

• One-year home value change (percentage): 2.64%

• Two-year home value change (percentage): -4.36%

• Mean price cut: $13,821

• Share of listings with price cut: 29.09%

• Mean days to close: 28

37. Huntsville, Alabama

• June 2024 home value: $309,499

• One-year home value change (percentage): 0.48%

• Two-year home value change (percentage): 0.48% 

• Mean price cut: $10,268

• Share of listings with price cut: 28.15%

• Mean days to close: 32

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36. Myrtle Beach, South Carolina

• June 2024 home value: $338,481

• One-year home value change (percentage): 1.80%

• Two-year home value change (percentage): 4.35%

• Mean price cut: $11,694

• Share of listings with price cut: 28.19%

• Mean days to close: 37

35. Spokane, Washington

• June 2024 home value: $417,086

• One-year home value change (percentage): 1.49%

• Two-year home value change (percentage): -3.83%

• Mean price cut: $17,579

• Share of listings with price cut: 27.12%

• Mean days to close: 29

34. Portland, Oregon

• June 2024 home value: $554,847

• One-year home value change (percentage): 1.64%

• Two-year home value change (percentage): -4.08%

• Mean price cut: $23,109

• Share of listings with price cut: 24.86%

• Mean days to close: 29

33. Pensacola, Florida

• June 2024 home value: $309,736

• One-year home value change (percentage): 1.79%

• Two-year home value change (percentage): 3.64%

• Mean price cut: $12,737

• Share of listings with price cut: 31.34%

• Mean days to close: 34

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32. Salt Lake City

• June 2024 home value: $548,835

• One-year home value change (percentage): 2.57%

• Two-year home value change (percentage): -4.94%

• Mean price cut: $18,638

• Share of listings with price cut: 30.24%

• Mean days to close: 27

31. Lubbock, Texas

• June 2024 home value: $209,214

• One-year home value change (percentage): -0.14%

• Two-year home value change (percentage): 1.74%

• Mean price cut: $9,877

• Share of listings with price cut: 28.95%

• Mean days to close: 33

30. Corpus Christi, Texas

• June 2024 home value: $224,512

• One-year home value change (percentage): 0.33%

• Two-year home value change (percentage): 0.05%

• Mean price cut: $17,191

• Share of listings with price cut: 22.97%

• Mean days to close: 30

29. Waco, Texas

• June 2024 home value: $261,013

• One-year home value change (percentage): 0.81%

• Two-year home value change (percentage): 1.74%

• Mean price cut: $13,464

• Share of listings with price cut: 28.90%

• Mean days to close: 31

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28. Lakeland, Florida

• June 2024 home value: $315,149

• One-year home value change (percentage): 1.44%

• Two-year home value change (percentage): 1.47%

• Mean price cut: $10,537

• Share of listings with price cut: 30.18%

• Mean days to close: 34

27. Killeen, Texas

• June 2024 home value: $258,289

• One-year home value change (percentage): -1.03%

• Two-year home value change (percentage): -0.94%

• Mean price cut: $12,284

• Share of listings with price cut: 23.30%

• Mean days to close: 32

26. Port St. Lucie, Florida

• June 2024 home value: ​​$401,971

• One-year home value change (percentage): 2.50%

• Two-year home value change (percentage): 2.90%

• Mean price cut: $19,065

• Share of listings with price cut: 29.63%

• Mean days to close: 34

25. Houston

• June 2024 home value: $312,052

• One-year home value change (percentage): 1.41%

• Two-year home value change (percentage): 0.69%

• Mean price cut: $15,072

• Share of listings with price cut: 28.83%

• Mean days to close: 29

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24. Nashville, Tennessee

• June 2024 home value: $447,170

• One-year home value change (percentage): 1.99%

• Two-year home value change (percentage): -0.38%

• Mean price cut: $21,392

• Share of listings with price cut: 32.19%

• Mean days to close: 32

23. Colorado Springs, Colorado

• June 2024 home value: $464,036

• One-year home value change (percentage): 1.45%

• Two-year home value change (percentage): -4.61%

• Mean price cut: $13,065

• Share of listings with price cut: 31.61%

• Mean days to close: 32

22. Denver

• June 2024 home value: $592,720

• One-year home value change (percentage): 2.01%

• Two-year home value change (percentage): -4.44%

• Mean price cut: $19,067

• Share of listings with price cut: 32.13%

• Mean days to close: 28

21. Honolulu (Urban)

• June 2024 home value: $867,057

• One-year home value change (percentage): 0.74%

• Two-year home value change (percentage): -3.33%

• Mean price cut: $34,693

• Share of listings with price cut: 18.30%

• Mean days to close: 39

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20. Ocala, Florida

• June 2024 home value: $279,895

• One-year home value change (percentage): 0.44%

• Two-year home value change (percentage): 2.64%

• Mean price cut: $12,281

• Share of listings with price cut: 29.39%

• Mean days to close: 34

19. Provo, Utah

• June 2024 home value: $533,482

• One-year home value change (percentage): 2.00%

• Two-year home value change (percentage): -7.00%

• Mean price cut: $16,036

• Share of listings with price cut: 30.10%

• Mean days to close: 28

18. Palm Bay, Florida

• June 2024 home value: $357,251

• One-year home value change (percentage): 1.39%

• Two-year home value change (percentage): 1.85%

• Mean price cut: $13,739

• Share of listings with price cut: 33.03%

• Mean days to close: 32

17. Beaumont, Texas

• June 2024 home value: $168,201

• One-year home value change (percentage): -1.31%

• Two-year home value change (percentage): -3.74%

• Mean price cut: $11,861

• Share of listings with price cut: 23.60%

• Mean days to close: 29

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16. Boise City, Idaho

• June 2024 home value: $482,228

• One-year home value change (percentage): 3.98%

• Two-year home value change (percentage): -9.52%

• Mean price cut: $18,615

• Share of listings with price cut: 30.98%

• Mean days to close: 29

15. Jacksonville, Florida

• June 2024 home value: $361,530

• One-year home value change (percentage): 1.28%

• Two-year home value change (percentage): 0.49%

• Mean price cut: $13,749

• Share of listings with price cut: 31.75%

• Mean days to close: 30

14. Lafayette, Louisiana

• June 2024 home value: $193,479

• One-year home value change (percentage): -2.12%

• Two-year home value change (percentage): -2.91%

• Mean price cut: $9,305

• Share of listings with price cut: 26.27%

• Mean days to close: 31

13. Deltona, Florida

• June 2024 home value: $346,653

• One-year home value change (percentage): 0.97%

• Two-year home value change (percentage): 1.00%

• Mean price cut: $14,388

• Share of listings with price cut: 29.88%

• Mean days to close: 33

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12. Dallas

• June 2024 home value: $381,600

• One-year home value change (percentage): 1.10%

• Two-year home value change (percentage): -1.24%

• Mean price cut: $15,721

• Share of listings with price cut: 32.03%

• Mean days to close: 28

11. Boulder, Colorado

• June 2024 home value: $747,586

• One-year home value change (percentage): 1.15%

• Two-year home value change (percentage): -5.66%

• Mean price cut: $40,990

• Share of listings with price cut: 24.05%

• Mean days to close: 27

10. Tampa, Florida

• June 2024 home value: $381,941

• One-year home value change (percentage): 2.71%

• Two-year home value change (percentage): 2.35%

• Mean price cut: $16,110

• Share of listings with price cut: 35.26%

• Mean days to close: 34

9. Phoenix

• June 2024 home value: $460,513

• One-year home value change (percentage): 4.01%

• Two-year home value change (percentage): -5.56%

• Mean price cut: $16,577

• Share of listings with price cut: 34.33%

• Mean days to close: 31

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8. Santa Cruz, California

• June 2024 home value: $1,181,192

• One-year home value change (percentage): 3.90%

• Two-year home value change (percentage): -5.67%

• Mean price cut: $89,350

• Share of listings with price cut: 20.08%

• Mean days to close: 26

7. Naples, Florida

• June 2024 home value: $604,606

• One-year home value change (percentage): 1.15%

• Two-year home value change (percentage): 1.94%

• Mean price cut: $46,104

• Share of listings with price cut: 25.37%

• Mean days to close: 38

6. Crestview, Florida

• June 2024 home value: $445,687

• One-year home value change (percentage): -0.69%

• Two-year home value change (percentage): -0.96%

• Mean price cut: $30,520

• Share of listings with price cut: 27.97%

• Mean days to close: 33

5. Cape Coral, Florida

• June 2024 home value: $390,185

• One-year home value change (percentage): -2.25%

• Two-year home value change (percentage): -1.93%

• Mean price cut: $19,759

• Share of listings with price cut: 23.72%

• Mean days to close: 33

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4. San Antonio

• June 2024 home value: $290,483

• One-year home value change (percentage): -2.23%

• Two-year home value change (percentage): -3.84%

• Mean price cut: $12,408

• Share of listings with price cut: 31.37%

• Mean days to close: 30

3. North Port, Florida

• June 2024 home value: $450,116

• One-year home value change (percentage): -1.64%

• Two-year home value change (percentage): -2.16%

• Mean price cut: $24,603

• Share of listings with price cut: 33.20%

• Mean days to close: 37

2. New Orleans

• June 2024 home value: $243,729

• One-year home value change (percentage): -6.44%

• Two-year home value change (percentage): -11.77%

• Mean price cut: $15,512

• Share of listings with price cut: 26.76%

• Mean days to close: 33

1. Austin, Texas

• June 2024 home value: $466,103

• One-year home value change (percentage): -4.30%

• Two-year home value change (percentage): -17.65%

• Mean price cut: $25,088

• Share of listings with price cut: 29.54%

• Mean days to close: 23

Methodology: For this piece, GOBankingRates looked at the 200 largest metro statistical areas (MSA) according to the real estate market and found the following 10 factors. For each MSA, GOBankingRates found (1) a one-year percentage change in home value; (2) a one-year change in home value in USD; (3) a two-year percentage change in home value; (4) a two-year change in home value in USD; (5) for-sale inventory; (6) mean days from listing to pending; (7) mean list-to-sale ratio; (8) mean days from pending to close; (9) share of listings with a price cut; and (10) mean price cut. All data was sourced from Zillow’s June 2024 data. All 10 factors were then scored and combined with the highest score being the worst housing markets. In final calculations, factors (1), (2), (9) and (10) were weighted 2x and factor (5) was weighted 0.5x. All data was collected and is up to date as of July 29, 2024.

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This article originally appeared on GOBankingRates.com: The 50 Worst Housing Markets in the US for Growth