"2024 Housing Market: 4 Texas Cities Expecting Price Declines, Affordable Markets to Watch"

According to a report from Realtor.com, home prices in the U.S. are predicted to fall by 1.7% in 2024, with larger drops expected in several major metro areas. Austin, Texas is projected to see the steepest decline at 12.2%, followed by St. Louis, Missouri and Spokane, Washington. Other Texas cities like San Antonio, Dallas, and Houston are also expected to experience falling home prices. The report suggests that the shift in housing affordability may attract first-time buyers, but high mortgage rates could deter current homeowners from moving. Despite the predicted stabilization of the market, challenges such as low home sales, limited inventory, and scarcity of move-in ready homes in desirable areas are expected to persist.