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Report: 4 of the top 5 metros most ‘at risk for home price decline’ are in Florida

By Nicolle Osorio, WFTV.com

By Nicolle Osorio, WFTV.com

ORLANDO, Fla. — Will home prices finally fall? That’s the question for worried sellers, homeowners, or those interested in buying property.

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Data from CoreLogic suggests that while home prices will continue to increase across the nation, some metro areas will see a decline in home prices over the next year.

The CoreLogic Market Risk Indicator, a monthly update of the overall health of housing markets across the US, released its top markets that will see a home price decline in 2024; most of them are in Florida.

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Here are the top 5:

  • Provo-Orem, Utah.
  • Lakeland- Winter Haven, Florida.
  • North Port- Sarasota- Bradenton, Florida.
  • Cape Coral - Fort Myers, Florida.
  • Port St. Lucie, Florida.

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According to the report, these five markets are at very high risk (70% probability) of declining home prices over the next 12 months.

On the other hand, prices will continue to change in metros such as Miami, Chicago, and Houston.

Nationally, data suggests that home prices will increase year-over-year by 4.5% from May 2023 to May 2024.

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Lake Downey Mobile Home Park Few of the trailers in the park haven’t been vandalized. The lucky ones have smashed windows and broken doors. Others have had entire sides torn off and metal stripped by vandals and scrappers that prowl the neighborhood, looking for things to sell. (wftv.com)


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