Nationally, home prices are going up, but the Texas housing market is getting hit hard by dropping prices. Some places are seeing double-digit losses. The net loss is quite significant in some metro areas. Where homeowners are losing over $230 per day in equity if they had purchased a home in the first quarter of 2023. We conducted an analysis and compared home prices from April 2022 to March 2023 with those from April 2023 to March 2024. Based on this comparison, we have compiled a list of the metropolitan areas where home prices have gone down.
Biggest Losers in the Texas Housing Market
The biggest losers in the Texas housing market are Snyder, Pearsall, Raymondville, and Fredericksburg, all of which have experienced a double digit percentage drop in home prices.
Snyder suffered the largest price drop of 26.67%. Pearsall homeowners also experienced a significant drop of 23.08% in home prices over the course of a year.
Fredericksburg homeowners saw the largest absolute dollar drop in home prices where homeowners lost $84,832 in equity in the course of a year.
1. Snyder, TX metro area
- Median Home Price (April 2022 to March 2023): $137,510
- Median Home Price (April 2023 to March 2024): $108,554
- Percentage Change: -26.67%
- Net Loss: -$28,955
The Snyder metro area is the biggest loser in the Texas housing market. The median home price in the Snyder, TX metro area took a nose dive from $137,510 to $108,554, marking a significant decline of 26.67%. This drop in price over the course of a year resulted in a loss of equity of $28,955 for Snyder homeowners.
2. Pearsall, TX metro area
- Median Home Price (April 2022 to March 2023): $218,220
- Median Home Price (April 2023 to March 2024): $177,296
- Percentage Change: -23.08%
- Net Loss: -$40,924
The Pearsall metro area came in second. In the Pearsall, TX metro area, the median home price plummeted from $218,220 to $177,296 in one year, a massive decline of 23.08%. Homeowners experienced a net loss of equity—$40,924!
3. Raymondville, TX metro area
- Median Home Price (April 2022 to March 2023): $261,850
- Median Home Price (April 2023 to March 2024): $226,317
- Percentage Change: -15.70%
- Net Loss: -$35,533
Raymondville came in next, and home prices fell from $261,850 to $226,317, a double-digit percentage decrease of 15.70%. This decline led to a net loss of $35,533 for property owners in Raymondville.
4. Fredericksburg, TX metro area
- Median Home Price (April 2022 to March 2023): $634,312
- Median Home Price (April 2023 to March 2024): $549,480
- Percentage Change: -15.44%
- Net Loss: -$84,832
Of all the Texas metro areas on this list, Fredericksburg homeowners saw the biggest net loss in absolute dollars. The median home price in the Fredericksburg, TX metro area declined from $634,312 to $549,480, resulting in a percentage drop of 15.44%.
Homeowners experienced a substantial net loss of in home equity of $84,832. It’s startling to think someone who purchased a home in Fredericksburg in the first quarter of 2023 has now lost $232 per day in equity.
5. Austin, TX metro area
- Median Home Price (April 2022 to March 2023): $489,303
- Median Home Price (April 2023 to March 2024): $451,609
- Percentage Change: -8.35%
- Net Loss: -$37,694
In the Austin, TX metro area, the median home price decreased from $489,303 to $451,609, an 8.35% drop. As a result of this decline, homeowners faced a net loss of $37,694.
6. Beeville, TX metro area
- Median Home Price (April 2022 to March 2023): $180,673
- Median Home Price (April 2023 to March 2024): $170,169
- Percentage Change: -6.17%
- Net Loss: -$10,504
In the Beeville, TX metro area, the median home price decreased from $180,673 to $170,169, a decline of 6.17%. As a result, homeowners experienced a home equity loss of $10,504 over the course of a year.
7. San Antonio, TX metro area
- Median Home Price (April 2022 to March 2023): $321,277
- Median Home Price (April 2023 to March 2024): $310,150
- Percentage Change: -3.59%
- Net Loss: -$11,127
The median home price in the San Antonio, TX, metro area decreased from $321,277 to $310,150, a negative percentage change of 3.59%. Homeowners faced an equity loss of $11,127.
8. Bay City, TX metro area
- Median Home Price (April 2022 to March 2023): $228,152
- Median Home Price (April 2023 to March 2024): $220,717
- Percentage Change: -3.37%
- Net Loss: -$7,436
Home prices in the Bay City, TX metro area declined from $228,152 to $220,717, which is a drop of 3.37%. This equates to a net loss of $7,436 for property owners.
9. Jacksonville, TX metro area
- Median Home Price (April 2022 to March 2023): $247,008
- Median Home Price (April 2023 to March 2024): $238,979
- Percentage Change: -3.36%
- Net Loss: -$8,030
In the Jacksonville, TX metro area, the median home price decreased from $247,008 to $238,979, which is a loss in equity of $8,030.
10. Granbury, TX metro area
- Median Home Price (April 2022 to March 2023): $359,708
- Median Home Price (April 2023 to March 2024): $349,179
- Percentage Change: -3.02%
- Net Loss: -$10,529
The median home price in the Granbury, TX, metro area declined 3.02% from $359,708 to $349,179, a net loss of—$10,529.
11. Fort Worth, TX metro area
- Median Home Price (April 2022 to March 2023): $363,466
- Median Home Price (April 2023 to March 2024): $355,230
- Percentage Change: -2.32%
- Net Loss: -$8,235
In the Fort Worth, TX metro area, the median home price decreased by 2.32% from $363,466 to $355,230.
12. Kingsville, TX metro area
- Median Home Price (April 2022 to March 2023): $187,380
- Median Home Price (April 2023 to March 2024): $184,356
- Percentage Change: -1.64%
- Net Loss: -$3,023
Home prices in the Kingsville, TX metro area fell 1.64% from $187,380 to $184,356, a loss of $3,023 in home equity.
13. Uvalde, TX metro area
- Median Home Price (April 2022 to March 2023): $245,238
- Median Home Price (April 2023 to March 2024): $241,647
- Percentage Change: -1.49%
- Net Loss: -$3,590
In the Uvalde, TX metro area, the median home price decreased from $245,238 to $241,647, a decline of 1.49%. Over the course of a year, homeowners lost $3,590 in home equity.
14. Abilene, TX metro area
- Median Home Price (April 2022 to March 2023): $236,158
- Median Home Price (April 2023 to March 2024): $233,569
- Percentage Change: -1.11%
- Net Loss: -$2,590
The median home price in the Abilene, TX metro area dropped 1.11% from $236,158 to $233,569.
15. Dallas, TX metro area
- Median Home Price (April 2022 to March 2023): $424,663
- Median Home Price (April 2023 to March 2024): $421,371
- Percentage Change: -0.78%
- Net Loss: -$3,292
In the Dallas, TX metro area, the median home price saw a mild decline of 0.78%, decreasing from $424,663 to $421,371, which is a loss of $3,292 in home equity.
16. Lubbock, TX metro area
- Median Home Price (April 2022 to March 2023): $245,789
- Median Home Price (April 2023 to March 2024): $244,138
- Percentage Change: -0.68%
- Net Loss: -$1,651
Home prices in the Lubbock, TX metro area decreased slightly by 0.68% from $245,789 to $244,138.
17. Houston, TX metro area
- Median Home Price (April 2022 to March 2023): $334,683
- Median Home Price (April 2023 to March 2024): $332,722
- Percentage Change: -0.59%
- Net Loss: -$1,961
In the Houston, TX metro area, the median home price decreased by 0.59% from $334,683 to $332,722.
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