Austin is among the U.S. cities that saw the biggest drop in home prices between August and September.
The typical U.S. home value edged lower by 0.1 percent from August to September, according to the latest Zillow Home Value Index data, marking the first month-over-month decline since February.Despite the apparent good news for aspiring homebuyers, who have been facing skyrocketing prices for the past few years, homes were on average still 2.1 percent more expensive than in September 2022.Fewer homes around the country have been selling above their list price—37.
Some of those cities also reported the biggest drops in prices year-on-year compared to 2022, with Austin recording a drop of 10 percent, New Orleans a decline of 8.8 percent, and San Antonio a slide of 2.5 percent.
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