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- Total homes sold: 5,091
- Share sold under asking price: 50.8%
- Median sale price: $340,015

During 2021 and 2022, investors made up in Orlando. Led by out-of-town corporations with plenty of cash, they were partially responsible for driving up prices in the market. Now with interest rates rising, which makes borrowing more expensive, they're pulling back from buying up more houses. are also causing more investors to sell their properties. These two factors have helped increase inventory in the city, leading to more price negotiation between buyers and sellers.

- Total homes sold: 7,885
- Share sold under asking price: 51.4%
- Median sale price: $269,645

Even though more inventory is available in Philadelphia, the number of homes sold is on the decline, and houses are sitting on the market longer. In January 2023, year over year, and the average length of time it took for a home to sell was 53 days, up seven from 2022.

While prices are still 25% to 30% higher than they were before the pandemic, they are starting to fall. Realtors in the area are to look at a shorter time frame of comparable sales when they set their prices and be prepared to negotiate. As in the area, houses on the lower end of the market are still popular with buyers, but homes priced at $1 million and up are languishing. that slowing will also happen with homes in the $700,000 to $800,000 range, which should instigate price drops.

- Total homes sold: 27,868
- Share sold under asking price: 51.8%
- Median sale price: $346,878

Sellers in Chicago compared with what's actually happening with home prices in the city. In fall 2022, sellers played it safe, pricing more conservatively in the wake of higher interest rates keeping buyers on the sidelines. As inventory tightened up and buyers adjusted to the idea of having to pay more interest if they wanted a house, they started becoming more active in the marketplace.

Sellers then figured that there would still be enough competition, so they started raising their asking prices—in spring 2023, asking prices were 1.1% above the peak in May 2022. That optimism hasn't translated to the actual sale price. 3.2% in March 2023 compared to March 2022.

- Total homes sold: 5,055
- Share sold under asking price: 52.0%
- Median sale price: $479,168

Henderson ranks as Nevada's best city to live in,, due to its proximity to Las Vegas, a low crime rate, and a wide variety of recreation options. The housing boom that hit Southern Nevada in 2021 is. Rising interest rates are one of the main culprits—as the Federal Reserve raised them, housing inventory grew and sellers cut prices throughout 2022.

Median sales prices to $425,000 from May 2022 to March 2023 in the Las Vegas area. Average sale time is also on the rise in Henderson, year-over-year to 46 days. New construction also continues in Henderson, with a project that will to the real estate inventory.

- Total homes sold: 1,530
- Share sold under asking price: 52.1%
- Median sale price: $399,826

During the pandemic, homebuyers flocked to southern Florida, and the resulting demand in many cities, including Hialeah, a suburb of Miami. In August 2022, Hialeah was ranked the in the country. The city's housing stock is old, with 60% of housing units built between 1950 and 1970. However, real estate developers have been hard at work building new housing to attract a younger generation. Housing inventory is low, but the number of homes sold is also dropping,. These factors are having an effect on the final price tag, as more buyers are getting concessions from sellers.

- Total homes sold: 5,007
- Share sold under asking price: 52.7%
- Median sale price: $125,000

Homes in Cleveland are sitting on the market just a little bit longer in 2023. As interest rates rose and pushed some buyers out of the market,. Even though it's still a seller's market, houses took an to sell in April 2023, compared to 41 days a year earlier.

Several neighborhoods in the city have , as new construction has appeared in some areas of the city that haven't had new housing for decades. New development is also happening in Cleveland's suburbs. One example is a development of empty-nester homes on the former SeaWorld property at Geauga Lake, southeast of the city.

- Total homes sold: 21,107
- Share sold under asking price: 54.0%
- Median sale price: $329,470

Houston's housing market has shifted abruptly from record sales volume in 2021 to a decline in sales volume in 2022, the city's experienced since 2015. Prices are also declining— and the second decline in as many months in 2023.

Rising mortgage rates are one factor, but homeowners here also face higher taxes and insurance costs. That's caused houses to sit on the market a little longer——and has given buyers some leverage in seeking concessions. Buyers looking for newly constructed homes may need to seek out condos or town homes. Overall,, but the amount of single-family home permits dropped drastically while the number of multifamily permits grew.

- Total homes sold: 3,507
- Share sold under asking price: 54.9%
- Median sale price: $225,313

Realtors in Pittsburgh note the city's real estate market has remained fairly stable, but that doesn't mean prices aren't coming down in some parts of the city. While some neighborhoods have seen price gains in the beginning of 2023 compared to 2022, about.

Inventory has also been on the rise,. Mortgage foreclosures have also been since federal pandemic moratoriums expired in mid-2021. In Allegheny County where Pittsburgh is located, 1,068 homes in all price brackets were foreclosed on in 2022, with over half of those coming in the last six months of the year. That trend continued in January 2023, when there were 101 foreclosures, a 55% increase from January 2022.

- Total homes sold: 4,629
- Share sold under asking price: 56.3%
- Median sale price: $79,999

Inventory is rising in metro Detroit, adding nearly a full month's supply in March 2023 compared to February. Still, is much lower than the six months of inventory needed to have a balanced market. Sellers are in order to attract buyers, but with inventory tight and the pace of new construction slow, they still have leverage.

Buyers are starting to use more creative financing techniques in order to buy that dream home. post-closing possession agreements that allow sellers to rent the home until they're able to find their own new house, 2/1 buydown programs that reduce mortgage interest rates for the first two years of the loan, and from lenders that allow buyers to make a cash offer for a property and receive a mortgage for it after closing.

- Total homes sold: 5,500
- Share sold under asking price: 56.7%
- Median sale price: $802,293

Scottsdale was a prime relocation target during the first year of the pandemic, with moving to this Phoenix suburb in 2020 versus leaving. Scottsdale trends toward the luxury buyer and has seen some price fluctuations from 2022 to 2023. From May to October 2022, prices for single-family homes. Comparatively, in April 2023, during the high point of the selling season, to nearly $800,000.

Although prices are experiencing some growth, homes here are sitting on the market much longer—70 days compared to 26 a year prior. More luxury housing is slated for the city—an is planned to start construction in fall 2024.

- Total homes sold: 1,543
- Share sold under asking price: 57.7%
- Median sale price: $439,856

Home prices are ticking upward in Fort Lauderdale, a once modest city that's transforming into a more high-end urban area. Developers are seeing the potential of the area and are pursuing more luxury projects within the city limits, including. The luxury market is seeing some price declines—at its peak in November 2021, the average sale price for homes over $1 million was $3.5 million, but a year later was just $2.7 million. Severe weather may also have an effect on the housing market—residents who endured a major flood in April 2023, as damage plus make home ownership financially difficult.

- Total homes sold: 1,746
- Share sold under asking price: 57.8%
- Median sale price: $444,726

Even though median sales prices for homes in Hollywood continue to rise, buyers do have an edge in this Broward County beachside city. Prices may be higher than in 2022, but the number of sales in Hollywood has slowed dramatically in 2023, from March to April 2023. It's also taking longer to sell a home here, with an average of 65 days in April 2023 compared to 50 in April 2022. That's proving to be too long for some homeowners, who even vacate the house before it sells. Hollywood has a the 6th highest vacancy rate in Florida.

- Total homes sold: 4,062
- Share sold under asking price: 57.9%
- Median sale price: $347,601

Buyers have the advantage to ask for more concessions in New Orleans as the market slows down from pandemic-era buying wars that led to for average house prices. Inflation and higher interest rates are two of the usual suspects keeping buyers on the sidelines, but are also killing deals.

After hurricanes caused serious damage in Louisiana in 2020 and 2021, dozens of insurance companies have left the state. This has caused home insurance policies to skyrocket, leaving some potential buyers unable to afford a home. In April 2023, inventory grew 14.1% month-over-month, and houses are staying on the market longer, up 60.7% year-over-year to an average of 55 days in April 2023.

- Total homes sold: 10,121
- Share sold under asking price: 59.3%
- Median sale price: $507,218

Miami has been a pandemic relocation destination, with a nearly in people moving to the city in 2022 compared to 2019. That growth increased demand for housing, but there are indicators that buyers could have an edge. The amount of inventory increased to at the beginning of 2023, making it a nearly balanced market.

While home prices are rising, sellers have been in the habit of overpricing their homes due to the recent history of high demand. That strategy has backfired a bit—in April 2023, homes were sitting on the market for an average of, a 19.6% increase from the previous year. That's causing sellers to lower prices from the initial listing in order to find the right buyer.

- Total homes sold: 676
- Share sold under asking price: 61.5%
- Median sale price: $106,333

The real estate market in central Georgia is to higher interest rates and mortgage costs. The number of sales fell in 2022, although the 2023 spring buying season saw an in the number of homes sold in April compared to March, with 121 properties changing hands. Macon still boasts affordability compared to nearby cities, particularly Atlanta, but can keep some potential buyers on the sidelines. One newer local tax may help with housing affordability. In 2021, that rolled back property taxes close to 40%.

Data reporting by Elena Cox. Story editing by Jeff Inglis. Copy editing by Tim Bruns.