Finding an affordable home in Austin may become more attainable in 2026, as home values in the metro area have seen a dramatic 6.1 percent drop since 2024, according to a new housing trends report.

Austin-Round Rock-San Marcos ranked No. 3 in Realtor.com's list of the top 10 U.S. metros that saw the greatest year-over-year median home value declines. The median listing price for an Austin-area home in 2025 came out to $479,000, or $26,870 lower than it was last year.

Two Florida metros – North Port-Bradenton-Sarasota (No. 1) and Cape Coral-Fort Myers (No. 2) – had the worst year-over-year decreases in median home values nationwide, at -8.6 percent and and -7.9 percent, respectively.

As many would-be homebuyers already know, Austin housing prices skyrocketed in 2021 and 2022 during the city's pandemic-era boom. Realtor.com senior economist Joel Berner said an influx of new build homes contributed to the city's high housing prices.

"New construction is part of the story, as builders responded to the spike in demand by building lots of new homes in this metro, and now that existing-home inventory has rebounded as well, supply exceeds demand," Berner said. "The still-high prices are keeping buyers out of the market for now, which is why demand seems low."

The Austin Board of Realtor's October housing report found Austin's median home prices had remained stable for the seventh consecutive month this year. In November, the median price of a home in the Austin-Round Rock-San Marcos metro fell 1.1 percent year-over-year to $430,000.

"After years of record-breaking appreciation, the market is starting to come back down to earth in some areas where houses are beginning to lose value," the report's author wrote. "While sellers may not welcome the shift, it could finally bring some financial relief to would-be homebuyers who’ve found affordability out of reach in recent years."

The top 10 U.S. metros where home values decreased the most in 2025 are:

• No. 1 – North Port-Bradenton-Sarasota, Florida
• No. 2 – Cape Coral-Fort Myers, Florida
• No. 3 – Austin-Round Rock-San Marcos, Texas
• No. 4 – Lakeland-Winter Haven, Florida
• No. 5 – Stockton-Lodi, California
• No. 6 – Deltona-Daytona Beach-Ormond, Florida
• No. 7 – Tampa-St. Petersburg-Clearwater, Florida
• No. 8 – Jacksonville, Florida
• No. 9 – Denver-Aurora-Centennial, Colorado
• No. 10 – San Francisco-Oakland-Fremont, California