- Using data from Zillow, the largest real estate listing platform in the US, Business Insider determined which metro areas saw a drop in prices in April.
- Of the 100 largest US metro areas, 26 saw a month-over-month decrease in median listing price, ranging from 0.1% to 3.3%.
- Of those 26, six are located in California.
- Visit Business Insider's homepage for more stories.
The coronavirus outbreak has brought most housing markets around the US to a halt. In fact, on May 8, around 199 million Americans were still under some form of lockdown.
These restrictions have forced prospective buyers and eager sellers to turn to virtual tours as an alternative way to shop and advertise homes. But despite the use of applications like Zoom and FaceTime, the upward momentum the industry experienced in the beginning of 2020 reversed its course as a result of the pandemic.
In fact, in the last week of March, new listings were down 36.9% from the same time last year. And by mid-April, that decline had spiked to nearly 50%, according to a report by Redfin. Home prices fell in some markets, too, but not by nearly the same percentage.
Using data from Zillow, the largest real estate listing platform in the US, Business Insider found that 26 of the 100 largest US metro areas saw a drop in the median listing price from April 3 to May 3. Of those 26, six are located in California.
Keep reading for the list, ranked from the smallest to the largest month-over-month decrease.
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