Source: Fox 31 News —
Several U.S. cities where home prices skyrocketed due to an influx of new residents during the pandemic are now seeing prices drop quickly. Real estate experts at Redfin looked at year-over-year data back in February and then again in October to find where the price per square foot dropped the most during that time period.
These are the U.S. metros where price growth is decelerating fastest, Redfin says:
As Redfin explains, these U.S. metros saw huge population growths as remote work became more common as a result of the pandemic. For the first time, perhaps ever, many American workers had the option to work virtually from less expensive cities than where their employers were located.
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