These U.S. Cities Have Seen the Biggest Drop in Home Prices This Year

Cities in Texas, Arizona, and Florida lead the way.

Peter Tsai Photography/Moment/Getty Images
Peter Tsai Photography/Moment/Getty Images
Peter Tsai Photography/Moment/Getty Images

It’s been a rough few years for would-be home buyers as they watched real estate prices soar in the wake of the COVID-19 pandemic. Now they’re contending with rising interest rates for mortgages, with lower demand helping the housing market to start cooling off finally. But where are prices dipping the most?

According to a report from, a diverse array of cities across the American South and West have seen some of the steepest drops in home prices since the market peak in June of this year. The tech hub of Austin, Texas leads the way, where home prices have plunged 10.3% in the last three months to an average of $588,275. 

Phoenix, Arizona also saw a significant drop, with a 9.9% decrease to $443,500, while the Florida city of Palm Bay came in at No. 3, with an 8.9% decrease to a $379,995 average price. No cities in the Northeast or the Midwest made the Top 10 list, but it does include a wide variety of locations in some of the country’s hottest real estate markets. While prices are down from the market peak, it’s important to note that they remain higher than this time last year in all 10 cities on the list.

Check out the full Top 10 list below, with percentages reflecting the change in average home price from June 2022 to September 2022:

1. Austin, Texas (-10.3%, $588,275) 
2. Phoenix, Arizona (-9.9%, $443,275)
3. Palm Bay, Florida (-8.9%, $379,995)
4. Charleston, South Carolina (-8.6%, $500,000)
5. Ogdun, Utah (-8.6%, $532,500)
6. Denver, Colorado (-8%, $625,000)
7. Las Vegas, Nevada (-7.9%, $460,000)
8. Stockton, California (-7.7%, $581,725)
9. Durham, North Carolina (-7.5%, $460,000)
10. Spokane, Washington (-7,.4%, $449,9000)Want more Thrillist? Follow us on Instagram, Twitter, Pinterest, YouTube, TikTok, and Snapchat.

Chris Mench is an editor focusing on NYC News at Thrillist. You can follow him on Twitter for more of his work.


Mad Mex’s New Menu Item Is Inspired by a Popular Mexican Street Food

mad mex chicken al pastor

Mexican restaurant chain Mad Mex has dropped a new protein, and it’s one of the most popular street foods in Mexico.

Enter, Chicken Al Pastor. It’s traditionally made with pork and grilled on a spinning rotisserie with a pineapple sitting a top, but Mad Mex has put its own spin on it, serving chicken bathed in an Al Pastor marinade with a touch of juicy pineapple.

You can order the protein-packed filling in your favourite burrito, bowl, quesadilla, nachos, or in a taco.

As always, these things are here for a good time, not a long time. Pop into your local Mad Mex restaurant, order delivery or through the Mad Mex app today.

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