News
50 Worst Housing Markets in the US for Growth
When buying a home — be it to live in or to rent out to generate passive income — it’s important to know your local housing market conditions. Is it strong, stable and growing? Are mortgage rates decent? Or is it in an irreversible slump?
Find Out: 20 Best Cities Where You Can Buy a House for Under $100K
Read Next: How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, Too
GOBankingRates determined the 50 worst housing markets in the U.S. for growth. To do this, we looked at the 200 largest metro statistical areas (MSAs) according to the real estate market and found the one-year percentage change in home value, the two-year percentage change in home value, the mean days from pending to close, the share of listings with a price cut and the mean price cut.
Here are some key findings:
Read on for details on the 50 U.S. housing markets that are the worst for growth.
50. Salinas, California
Read More: 10 Countries To Live Outside the US That Are So Cheap You Could Quit Your Job
Avoid These: 7 Worst States To Buy Property in the Next 5 Years, According to Real Estate Agents
49. Orlando, Florida
Trending Now: Is Leasing Really Cheaper? ChatGPT Crunches the Numbers for Buying vs. Leasing Over 12 Years
48. Baton Rouge, Louisiana
47. Eugene, Oregon
46. Shreveport, Louisiana
45. Reno, Nevada
Trending Now: 5 Cities Where Homes Will Be a Total Steal In Two Years
44. Salisbury, Maryland
43. Jackson, Mississippi
42. Longview, Texas
41. Greeley, Colorado
Try This: 5 Worst Florida Cities To Buy Property in the Next 5 Years, According to Real Estate Agents
40. San Francisco
39. Laredo, Texas
38. Ogden, Utah
37. Huntsville, Alabama
Explore More: 5 Affordable Small Cities To Live In on the West Coast
36. Myrtle Beach, South Carolina
35. Spokane, Washington
34. Portland, Oregon
33. Pensacola, Florida
Read More: 6 Best Florida Suburbs to Buy Property in the Next 5 Years, According to Real Estate Agents
32. Salt Lake City
31. Lubbock, Texas
30. Corpus Christi, Texas
29. Waco, Texas
Discover More: 5 Southern Cities Where You Can Buy a House for Under $100K
28. Lakeland, Florida
27. Killeen, Texas
26. Port St. Lucie, Florida
25. Houston
For You: 8 Places Where Houses Are Suddenly Major Bargains
24. Nashville, Tennessee
23. Colorado Springs, Colorado
22. Denver
21. Honolulu (Urban)
Read Next: 6 Best Cities To Buy Property in the Next 5 Years, According to Real Estate Agents
20. Ocala, Florida
19. Provo, Utah
18. Palm Bay, Florida
17. Beaumont, Texas
Check Out: Mortgage Rates Are Dropping — 20 Housing Markets With the Most Affordable Home Prices
16. Boise City, Idaho
15. Jacksonville, Florida
14. Lafayette, Louisiana
13. Deltona, Florida
Try This: You’ll Need at Least $50K Saved To Buy a Home in These 13 Affordable Housing Markets
12. Dallas
11. Boulder, Colorado
10. Tampa, Florida
9. Phoenix
Learn More: 4 Best International Cities to Buy a House in the Next 5 Years, According to Real Estate Experts
8. Santa Cruz, California
7. Naples, Florida
6. Crestview, Florida
5. Cape Coral, Florida
Consider This: Real Estate Agents Explain Why You Should Never Invest in These 7 Home Features
4. San Antonio
3. North Port, Florida
2. New Orleans
1. Austin, Texas
Methodology: For this piece, GOBankingRates looked at the 200 largest metro statistical areas (MSA) according to the real estate market and found the following 10 factors. For each MSA, GOBankingRates found (1) a one-year percentage change in home value, (2) a one-year change in home value in USD, (3) a two-year percentage change in home value, (4) a two-year change in home value in USD, (5) for-sale inventory, (6) mean days from listing to pending, (7) mean list-to-sale ratio, (8) mean days from pending to close, (9) share of listings with a price cut, and (10) mean price cut. All data was sourced from Zillow’s June 2024 data. All 10 factors were then scored and combined with the highest score being the worst housing markets . In final calculations, factors (1), (2), (9) and (10) were weighted 2x and factor (5) was weighted 0.5x. All data was collected and is up to date as of Jul. 29, 2024.
More From GOBankingRates
This article originally appeared on GOBankingRates.com : 50 Worst Housing Markets in the US for Growth