Metros Where Home Prices Fell
Metropolitan areas of 250,000 or more with a one-year decline, ordered from the largest
Metros where the FHFA index shows prices lower than a year ago, with the five- and ten-year change beside it.
14 locations · Calculated September 26, 2026 · Data reflects 2026 Q2 · Download CSV
The supporting columns show on a wider screen, and every column is in the CSV.
14 places, ranked nationally.
| # | Metro | Change | 5-year change | 10-year change | Shortlist |
|---|---|---|---|---|---|
| 1 | Boulder, CO Metro Area | −2.3% | +22.5% | +69.8% | |
| 2 | College Station-Bryan, TX Metro Area | −2.2% | +42.4% | +80.8% | |
| 3 | Stockton-Lodi, CA Metro Area | −1.8% | +18.2% | +79.7% | |
| 4 | Oxnard-Thousand Oaks-Ventura, CA Metro Area | −1.3% | +28.7% | +66.9% | |
| 5 | San Jose-Sunnyvale-Santa Clara, CA Metro Area | −1.0% | +27.4% | +52.2% | |
| 6 | Cape Coral-Fort Myers, FL Metro Area | −0.9% | +27.8% | +84.1% | |
| 7 | Vallejo, CA Metro Area | −0.7% | +14.3% | +64.0% | |
| 8 | Port St. Lucie, FL Metro Area | −0.6% | +45.1% | +129.2% | |
| 9 | Denver-Aurora-Centennial, CO Metro Area | −0.5% | +21.4% | +79.9% | |
| Also rank 9, tied | San Antonio-New Braunfels, TX Metro Area | −0.5% | +29.3% | +79.7% | |
| Also rank 9, tied | North Port-Bradenton-Sarasota, FL Metro Area | −0.5% | +37.5% | +101.0% | |
| 12 | Deltona-Daytona Beach-Ormond Beach, FL Metro Area | −0.2% | +38.6% | +121.7% | |
| Also rank 12, tied | Salem, OR Metro Area | −0.2% | +27.7% | +106.9% | |
| 14 | Tuscaloosa, AL Metro Area | −0.1% | +32.7% | +68.5% |
Methodology
Percent change in the FHFA House Price Index (traditional, all-transactions) between the latest quarter and the same quarter a year earlier, listed only where it is negative. The index follows repeat sales of the same homes. It covers mortgages bought or guaranteed by Fannie Mae and Freddie Mac. One year is a short window and quarterly indexes are revised as later sales arrive, so read the longer changes beside it.
Some entries here hold the same value and therefore the same rank. Where that happens the rank is printed once and the rows beneath it are left blank, because the order they appear in carries no meaning — there is nothing in the measurements to separate them.
What is excluded, and why
Metropolitan areas where prices are not lower than a year ago. Metropolitan areas under 250,000 residents. Also not ranked: the metros FHFA publishes only by metropolitan division rather than as a whole (New York, Los Angeles, Chicago, Dallas, Atlanta, Miami, Washington, Boston, Philadelphia, Seattle, San Francisco and a few others), because a division is part of a metro and not a like-for-like entry beside a whole one.
All 14 metros that meet these criteria are listed.
Sources
- U.S. Federal Housing Finance Agency — House Price Index (traditional, all-transactions) (HPI master file, quarterly)
Full details of how signals and the Area Score are calculated are on the methodology page, and how rankings like this one are built and reviewed is on the editorial policy page.