5 Housing Markets at ‘Very High’ Risk of Falling

U.S. home values rose on both a year-over-year and monthly basis in July, according to property analytics firm CoreLogic.

From July 2022 to July 2023, home values rose 2.5% nationwide. Prices increased by 0.4% in July compared with June.

Even though home prices actually declined in 11 states, CoreLogic forecasts that prices in those markets will begin to rebound no later than October.

But despite the general upward swing in home prices, a few markets remain in big jeopardy of a correction. CoreLogic says the following places are in the greatest danger of slipping during the next 12 months.

Lakeland-Winter Haven, Florida

This housing market’s likelihood of a price decline over the next 12 months: Very high (more than 70% probability)

Planning to move to Lakeland or Winter Haven? You better like the heat. This metro in central Florida, dotted with lakes, is the state’s representative on the list of “The Hottest City in Every State.”

North Port-Sarasota-Bradenton, Florida

This housing market’s likelihood of a price decline over the next 12 months: Very high (more than 70% probability)

This metro area, on Florida’s western coast, remains among “The 25 Best Cities to Retire in Florida.”

Cape Coral-Fort Myers, Florida

This housing market’s likelihood of a price decline over the next 12 months: Very high (more than 70% probability)

Also on Florida’s western coast, Lee County — home to both Cape Coral and Fort Myers — is one of the “The 10 Best U.S. Counties for Retirees in 2023.”

Spokane-Spokane Valley, Washington

This housing market’s likelihood of a price decline over the next 12 months: Very high (more than 70% probability)

If prices slip in Spokane, seniors may want to jump at the opportunity to find a bargain. Spokane is among the “12 Great Places to Retire in the Mountains.”

Do you plan to buy a home soon? Stop by the Money Talks News Solutions Center and find a great mortgage rate.

Provo-Orem, Utah

This housing market’s likelihood of a price decline over the next 12 months: Very high (more than 70% probability)

If you are a budding entrepreneur, Provo could be a good destination. The city is among the “Top 10 U.S. Metros to Start a Business.”