At the top of this site I have links to some of my favorite websites for predicting where values are heading for various real estate markets. Local Market Monitor and Ken Wade’s Housing Alerts are two of my favorites. Both are paid sites. And no, I do not receive any affiliate marketing or other compensation from them.
Wade recently released a list of 129 Declining real estate markets. Both Spokane and Coeur d’Alene are on the list. Austin will be leading us down this time, along with two of the usual suspects, Las Vegas and Phoenix (both near California so frequent markets of speculators from California).
Wade’s list is adjusted for inflation so keep that in mind. If we assume that inflation is about 3%, we’re only went down .5% year over year which is to be expected with such high interest rates and with the pandemic era work-from-home permissions being revoked. The table below starts with Spokane and shows inflation-adjusted year over year changes for markets that performed even worse.
| Spokane | -3.5% |
| Coeur d’Alene | -3.5% |
| Tacoma | -3.5% |
| Shreveport | -3.6% |
| Harrisonburg, VA | -3.6% |
| Portland-Vancouver, OR, WA | -3.7% |
| Eugene, OR | -3.9% |
| Las Vegas | -3.9% |
| Kennewick-Richland | -4.0% |
| New Orleans | -4.1% |
| Prescott, AZ | -4.2% |
| Stockton, CA | -4.2% |
| Olympia | -4.3% |
| Lewiston | -4.4% |
| Vallejo, CA | -4.4% |
| Lake Havasu | -4.5% |
| Greely, CO | -4.5% |
| San Francisco | -4.5% |
| Bellingham | -4.7% |
| Ogden | -4.7% |
| Salt Lake City | -4.7% |
| Provo-Orem | -4.8% |
| Merced, CA | -4.9% |
| Napa | -4.9% |
| Pine Bluff, AR | -5.0% |
| Colorado Springs | -5.0% |
| Houma, LA | -5.0% |
| Medford, OR | -5.1% |
| Reno, NV | -5.2% |
| Phoenix-Mesa-Chandler | -5.3% |
| Longview, WA | -5.4% |
| Bremerton | -5.5% |
| Pueblo, CO | -5.7% |
| San Rafael, CA | -5.8% |
| Chico, CA | -5.8% |
| St. George | -5.9% |
| Puerto Rico | -6.0% |
| Lawton, OK | -6.2% |
| Lafayette, LA | -6.5% |
| Boise | -6.9% |
| Honolulu | -7.4% |
| Idaho Falls | -7.8% |
| Twin Falls | -9.0% |
| Santa Rosa, CA | -9.1% |
| Lake Charles, LA | -11.1% |
| Austin-Round Rock | -11.4% |
https://www.housingalerts.com/blog/market-report/list-of-129-declining-markets-year-over-year/
Of course, what happened in the past will not necessarily happen over the next year. See the previous post for predictions for 2024 by Redfin.