Mid-Tier Home Prices Fall in 25 of 33 Cities as Oakland and Austin Sink 26%
Updated
Updated · WOLF STREET · May 16
Mid-Tier Home Prices Fall in 25 of 33 Cities as Oakland and Austin Sink 26%
1 articles · Updated · WOLF STREET · May 16
April data showed year-over-year declines in mid-tier home prices across 25 of 33 expensive U.S. cities, with month-to-month prices also falling in 27 markets.
Oakland and Austin led the retreat at 26% below their 2022 peaks, while New Orleans was down 19%; Boston newly slipped 1% below its April 2025 high.
Only 5 cities were at new highs in 2026, including New York City and Chicago in April, while 3 other cities posted annual gains but still remained below earlier peaks.
The pullback follows the 2020-2022 housing surge, when cities such as Austin, Phoenix and Fort Worth posted price spikes of 50% to 62%.
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With global conflicts now driving mortgage rates, can domestic policies still make housing affordable for average Americans?