Florida’s housing market has dropped in value more than any other state according to a new study, with property values dropping $8,797 in just 12 months.
The analysis by cash buying firm PPS House Buyers examined Zillow’s housing data from spring 2024 to March 2025. This was used to uncover which states suffered the steepest declines in home values.
The five states with the largest house price decreases from April 2024 to March 2025
| Rank | State | Average House Price – April 2024 | Average House Price – March 2025 | Percentage Change | Price Difference |
| 1. | Florida | $416,385 | $407,587 | -2.11% | -$8,797 |
| 2. | Vermont | $397,644 | $392,398 | -1.32% | -$5,246 |
| 3. | Arizona | $443,831 | $438,202 | -1.27% | -$5,629 |
| 4. | Texas | $307,472 | $304,532 | -0.96% | -$2,940 |
| 5. | Georgia | $330,984 | $330,822 | -0.05% | -$161 |
Florida led the nation in falling home values at a 2.11% decline. This seemingly small percentage may not appear as much at first. However, this equates to a real-world monetary drop of $8,797 between April 2024 and March 2025.
Vermont came next. Prices there slipped by 1.32%, which knocked about $5,246 off the average home.
In Arizona, the decline came to 1.27%, shaving $5,629 off typical property values.
Home prices in Texas fell by 0.96%, losing $2,940 on average for a typical home listing.
Georgia places fifth with a 0.05% decline in home prices, representing just $161 lost per home.
Commenting on the study, Joel Medrano, CEO of PPS House Buyers said, “The pattern we’re seeing in Florida and other southern states suggests a market correction after several years of extraordinary growth. These decreases create opportunities for buyers who were previously priced out of these markets.
“What’s particularly interesting about these findings is the regional divide we’re witnessing. While southern states that saw enormous pandemic gains are now cooling off, some Midwestern and Northeastern markets continue to strengthen.”
The five states with the largest house price increases from April 2024 to March 2025
| Rank | State | Average House Price – April 2024 | Average House Price – March 2025 | Percentage Change | Price Difference |
| 1. | Kentucky | $204,926 | $217,892 | 6.33% | $12,965 |
| 2. | Rhode Island | $460,707 | $486,648 | 5.63% | $25,940 |
| 3. | Wyoming | $338,301 | $356,664 | 5.43% | $18,363 |
| 4. | West Virginia | $158,854 | $167,346 | 5.35% | $8,492 |
| 5. | New Jersey | $538,403 | $566,880 | 5.29% | $28,476 |
