Property prices fall in Florida and Texas: Discover the cities most affected by low demand and excess supply

The U.S. real estate market shows varied trends, with some regions experiencing rising housing prices while cities in Florida and Texas, like Austin, Tampa, and Jacksonville, see notable declines. Austin has the largest drop at 2.7% year-on-year, driven by excess construction. Properties are taking longer to sell, with Miami averaging 94 days on the market. High mortgage rates and economic uncertainty contribute to cautious buyer behavior. The surplus of homes in these areas presents opportunities for buyers seeking lower prices, despite additional costs to consider.