The latest Zillow Home Value Index indicates a deceleration in national home price growth, which rose only 0.7% from April 2024 to April 2025, considerably lower than the previous year's 4.4% increase. The share of significant metro markets facing price declines is on the rise, up to 27% this year. While certain regions, especially in the Northeast and Midwest, see prices increasing, many others across the Sun Belt, including Austin and Tampa, are witnessing notable corrections as buyer leverage increases due to higher inventories.
Austin has seen a significant decrease of 5.1% in home values, compounded by rising inventory levels which provide buyers with enhanced leverage in negotiations.
The share of housing markets with declining prices has increased from 10% to 27%, indicating a growing trend as the balance shifts toward buyers.
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