Home prices in pandemic boomtowns Florida and Texas fell up to 12% due to increased inventory and declining demand.

Home prices in pandemic boomtowns like Florida and Texas have fallen by up to 12%, driven by increased inventory and declining demand. This decline is sharper than the national median home price, which dropped by 1% year-over-year in September. Cities such as Cape Coral and McAllen lead the declines, with factors like rising living costs, weather events, and political climates contributing to decreased buyer interest.