A shot of San Jose houses.
Houses in San Jose, California, where home prices dropped 12.7% since their peak in 2022.
  • According to Black Knight, 14 of the 50 largest US markets have seen home prices fall by 6% or more.
  • The San Francisco Bay Area leads the nation with the largest drop in home prices.
  • Softening home prices in some of the most expensive cities will benefit buyers.

Fatigued home shoppers across the country have more of a reason to relax — if ever so slightly — as home prices continue to slide from their peak in 2022.