While most number-crunching housing data reports emphasize the best markets across the country, the folks at GoBankingRates.com decided to accentuate the negative with their new list of the worst housing markets for growth.
In compiling this problematic data, the site reviewed the 200 largest metro statistical areas according to the real estate market and weighed a variety of factors including both a one-year and two-year percentage change in home value, a two-year change in home value in dollars, for-sale inventory, the share of listings with a price cut, and the mean price cut. All data was sourced from Zillow’s June 2024 data.
Using this parameter, the new study considered Austin as the worst housing market in America, thanks in large part to a two-year home value change of -17.7% and a 26.8% share of listings carrying a price cut. New Orleans, Florida’s North Port, San Antonio, and Florida’s Cape Coral rounded out the top five among the new rankings.
Among the states, Florida was home to the most housing markets with the worst growth activity – five of the top 10 and 13 of the top 50 worst housing markets were in Florida. Texas ranked second with 10 metro areas in the top 50 list.
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