Free NewsletterPro Login

Warning: Undefined variable $stocks in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 448

Warning: foreach() argument must be of type array|object, null given in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 448

Warning: Undefined variable $funds in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 472

Warning: foreach() argument must be of type array|object, null given in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 472
/* the link was here */

Home Prices Just Dropped In 39 Major US Cities, Led By Florida And The Sun Belt

Published May 3, 2026
Share:
Aerial view of a coastal residential neighborhood with canals, palm trees, and houses under a cloudy sky at sunset.
Summary:
  • ATTOM data shows median sale prices fell in 39 of the 129 largest US cities in the first three months of 2026.
  • Cape Coral-Fort Myers led the drops at 9% to $341,250, with home insurance and tax pressure as a key driver.
  • Detroit went the other way, jumping about 17% to $259,000 as Rust Belt cities pick up while Sun Belt ones cool.

For most of the last five years, buyers got beat up. That just flipped.

About a third of America's biggest cities saw home prices fall in the first three months of 2026. Florida and the Sun Belt are leading the drop.

Where The Drops Are

Florida's Cape Coral-Fort Myers area led the drops. Its median sale price fell 9% to $341,250.

That market peaked in early 2023, per data from the Fed of St. Louis. Ocala, Lakeland-Winter Haven, and the Naples-Marco Island area are also rolling back, per ATTOM.

Austin and other Sun Belt cities that ran hot in the boom are also slowing. Realtor.com's Jake Krimmel told CBS the cities falling now are mostly the same ones that ran the most.

He called it less of a bust and more "a come-down or back to reality."

Insurance Is Now A Buying Choice

Florida home owners pay the highest home rates in the US. Insurify says the average rate in Florida jumped 18% last year to $8,292.

In some Florida counties, the bills are far worse. Monroe County alone runs over $22,000 a year.

Bryce Ocepek is a Coldwell Banker broker in north Florida. He told CBS he sees owners list just because they got dropped by their plan.

Some got hit with a new bill they could not pay. Storm risk and flood-zone tests are pulling some homes off the buy list, he said.

A new poll from Florida Atlantic shows nearly half of Floridians may leave the state due to costs. About 8 in 10 of those polled said they are worried about home costs.

Some sellers say their plan got dropped after a storm hit. Some had a flood-zone test that pushed the home off the map for buyers.

Where Prices Are Still Going Up

Not every market is cooling. Detroit jumped about 17% in the first quarter to $259,000.

The Rust Belt did not run up in the boom, so values have more room. Mortgage rates are now near 6.3%, per Freddie Mac.

That is not the 3% rate buyers got in the boom. But it is well below the 6.8% they got a year ago.

April was the sixth straight month of year-over-year list price drops, Krimmel said. Sellers are coming in with prices that match the market they are in.

He told CBS the broader market is also tilting more buyer-friendly this spring. There is cheaper money, more homes for sale, and softer prices all at once.

Worth Noting

The biggest factor for a buyer right now is not the rate. It is the zip code.

The drops are sharp where they are sharp. The lifts are real where they are real.

The whole map is local now. The same week can be a buy in Detroit and a wait in Cape Coral.

Disclosure

Recent News

1 2 3 … 102

Get Market Briefs delivered to your inbox every morning for free!

No fluff. No noise. No politics. Just finance news you can read in 5 minutes.

Blogs

October 5, 2026
What Is the Briefs Connector? A Simple Guide
  • The Briefs Connector lets your favorite AI read Briefs research, like Pro reports and the Briefs Score.
  • Without it, an AI asked about investing can give answers that sound right but aren't backed by that research.
  • It explains the research, but it won't tell you what to buy or sell.
Read More
October 5, 2026
Is a Recession Coming? What the Last Five Rate Hiking Cycles Say
  • The Fed has started raising rates again, and in the last five hiking cycles going back to 1994, a recession never started while the hikes were underway.
  • The pain showed up where there was a bubble to pop - housing in 2008, dot-coms in 2000, the pandemic money-printing boom in 2022 - and usually after the hikes ended.
  • Private equity and private credit are feeling this cycle first, and how far the pain spreads depends on how high rates go and how long they stay there.
Read More
October 2, 2026
Fed Interest Rates May Rise Again in 2026 - and the Newest Culprit Is AI
  • Fed Governor Barr told a meeting our head of investing research attended that higher rates are likely in 2026, lower inflation may not come soon, and AI is now pushing prices up.
  • The same week, President Trump asked the biggest AI companies to police themselves under an accord that's morally but not legally binding, because the White House sees AI as a race with China.
  • Higher rates put downward pressure on asset prices and squeeze borrowers, but the way through hasn't changed: own investments, buy on a schedule, and treat downturns as discounts.
Read More
October 1, 2026
Housing Market 2026: Why Office Buildings Are Cracking Before Houses Do
  • Office buildings are selling for 80% to 95% off because their five-year loans are resetting at much higher rates while half-empty floors have gutted the income those buildings are valued on.
  • Housing is under pressure, not cracking: a $400,000 mortgage costs $975 more a month than at 3%, but six of every seven mortgages are still under 6% and those owners are staying put.
  • Whether pressure turns into cracks is a race between unaffordability and the economy, and either way Jaspreet's rule is to treat your house as a liability and buy only what you can afford.
Read More
September 30, 2026
Dividend Investing vs. Growth Investing: Why the Slower Portfolio Can End Up Bigger
  • "What stock should I buy?" is the wrong first question. Growth, income, or wealth preservation comes first, and the goal changes which stocks even make sense.
  • At $500 a month for 30 years, 13% growth builds about $1.75 million. 10% growth plus a reinvested 4% dividend builds a little more than $2.2 million and pays a little more than $80,000 a year.
  • Income investors have US dividend ETFs, REITs, and international dividend funds to study. Growth investors have the Nasdaq 100, AI and chip funds, and small caps. None of it is a recommendation.
Read More
September 29, 2026
Why Is Gold Going Down? A 5.2% Treasury Yield Just Took Its Job
  • President Trump rejected Iran's deal to reopen the Strait of Hormuz, oil prices jumped back up, and gold fell instead of rising.
  • Treasury yields hit their highest level in more than 20 years, so investors sold gold and bought Treasuries that pay interest.
  • Higher Treasury yields make the national debt, mortgages, car loans, and credit cards more expensive, with the Fed's next rate decision due October 28.
Read More
September 28, 2026
The Strategic Bitcoin Reserve: Why the Government Wants Bitcoin to Explode
  • The US government holds about 328,000 Bitcoin, worth roughly $25 billion, and since a 2025 executive order it keeps seized coins instead of selling them.
  • Washington wants a bigger pile of assets so its $40 trillion national debt looks smaller next to them, which lets it keep borrowing and spending.
  • Bitcoin's wild price swings, and a government holding a coin built to escape governments, are the two risks investors need to watch.
Read More
September 25, 2026
BRIEFS EXCLUSIVE: 43% Of Respondents Say Bills Outran Their Income Over Past Two Years
  • 43% of the 494 Market Briefs readers surveyed said their bills grew faster than their income over the past two years, even though 79% could cover a surprise $5,000 expense tomorrow.
  • Half of readers own gold or crypto, the two classic bets against a weaker dollar, and only 13% bought nothing at all in the last 12 months.
  • The median reader says it takes $150,000 a year to feel financially secure, about $62,000 above the U.S. median household income.
Read More
September 25, 2026
The Economy Is Booming. So Why Did Stocks and Bonds Fall Together?
  • S&P Global says the US economy is growing at its fastest rate since 2021, with corporate profits up 28.9% in a year, almost four times the historical average.
  • Stocks and bonds fell at the same time, which is not how the two markets normally behave, because Treasury yields above 5% now compete with stocks for investors' money.
  • Jaspreet Singh lays out three ways to invest through a shift like this: always be buying, buy the crash, or follow the money before it hits the headlines.
Read More
September 24, 2026
The 2026 Economic Reset Is Starting: Are We in a Recession, or Is the Pain Still Ahead?
  • The Federal Reserve has flipped from stimulating the economy to fighting inflation with higher interest rates, while the White House still wants growth at almost any cost.
  • The national debt tops $40 trillion, has outgrown the entire U.S. economy, and its interest payments are now the government's fastest-growing expense.
  • Higher rates bring pain for private equity, private credit, and speculative assets, but they open opportunities for investors holding cash, treasuries, and value assets.
Read More
1 2 3 … 28
Share via
Copy link