Fastest Declining Housing Markets

 

Fastest Declining US Housing Markets (1-Year Drop):

1. Austin, TX: -11.6%

2. Boise, ID: -8.6%

3. New Orleans, LA: -8.0%

4. Lake Charles, LA: -8.0%

5. Phoenix, AZ: -7.0%

6. Las Vegas, NV: -7.0%

7. Provo, UT: -6.7%

8. Reno, NV: -5.7%

9. Chico, CA: -5.7%

10. San Jose, CA: -5.5%

Many of these markets were heavily investor driven over the last few years.  According to the latest data, investor home purchases are down nearly 50% this year.  All as tons of Airbnb properties in major cities are hitting the market.