These 10 U.S. Cities Could See the Steepest Housing Price Drops in 2025

A new report from Reventure Consulting, featured in the YouTube video “The 2nd Stage of the Housing Crash Has Officially Begun,” outlines a growing concern across major metropolitan housing markets: the combination of rising inventory, slowing sales, and declining prices.

📌 Why These Cities?

This list focuses specifically on large U.S. cities with populations over 1 million people. These urban centers were chosen because:

• They have significant housing stock and are representative of broader market trends.

• Their high population density makes them particularly vulnerable to rapid market shifts.

• Many of them saw aggressive home price growth from 2020–2022 and are now experiencing a correction.

Using data from Reventure’s software and supported by recent May 2025 figures, we break down inventory levels, year-over-year performance, and estimated annual price declines for each of these metro areas.

Let’s take a closer look at the 10 cities expected to experience the steepest housing price declines in 2025:

#10 Nashville, TN

• Inventory: ~10,037 active listings

• May 2025 YoY Sales: –17.6% (930 homes sold); prices up +1.8%

• 🔻Reventure Estimate: Price drop expected, but not quantified in video

#9 Salt Lake City, UT

• Inventory: ~3,200+

• May 2025 YoY Sales: Data not disclosed

• 🔻Reventure Estimate: –6% annual price drop

#8 Phoenix, AZ

• Inventory: Over 20,000

• Market Note: ~31% of listings with price cuts

• 🔻Reventure Estimate: –6% to –7% annual price drop (implied in Reventure commentary)

#7 Jacksonville, FL

• Inventory: Over 10,000

• May 2025 YoY Sales: –2%

• 🔻Reventure Estimate: –5% to –6% annual price drop (approximate based on trend)

#6 Seattle, WA

• Inventory: Over 8,000

• Sales Trends: Not fully detailed; market softening

• 🔻Reventure Estimate: –5% annual price drop

#5 San Antonio, TX

• Inventory: ~13,000

• May 2025 Price Change: –3.2% YoY

• 🔻Reventure Estimate: –6% annual price drop

#5 Orlando, FL

• Inventory: ~14,000

• May 2025 Price Change: –2.7% YoY

• 🔻Reventure Estimate: –7% annual price drop

#4 Dallas, TX

• Inventory: ~30,000

• May 2025 Price Change: –3.0% YoY

• 🔻Reventure Estimate: –6% to –7% annual price drop (implied)

#3 Tampa, FL

• Inventory: Over 20,000

• May 2025 Price Change: –4.4% YoY

• 🔻Reventure Estimate: –7.2% annual price drop

#2 Austin, TX

• Inventory: Estimated 25,000–30,000+

• Recent Trend: Significant drops in several counties

• 🔻Reventure Estimate: –8% annual price drop

#1 Denver, CO

• Inventory: Over 12,000

• May 2025 Price Change: –1.8% YoY

• 🔻Reventure Estimate: –9% annual price drop

📊 Summary Table

Rank	City	Inventory (May 2025)	May YoY Sales/Price Change	🔻Reventure Price Drop Estimate
10	Nashville, TN	~10,037	–17.6% sales; +1.8% price	Not specified
9	Salt Lake City	~3,200+	Not disclosed	–6%
8	Phoenix, AZ	20,000+	Price cuts on 31%+ listings	–6% to –7%
7	Jacksonville, FL	10,000+	–2% sales	–5% to –6%
6	Seattle, WA	8,000+	Not detailed	–5%
5	San Antonio, TX	~13,000	–3.2% price	–6%
5	Orlando, FL	~14,000	–2.7% price	–7%
4	Dallas, TX	~30,000	–3.0% price	–6% to –7%
3	Tampa, FL	20,000+	–4.4% price	–7.2%
2	Austin, TX	25k–30k+	–5.1% price	–8%
1	Denver, CO	12,000+	–1.8% price	–9%

🔎 Final Thoughts

Based on both inventory levels and declining home prices, these cities could face extended softness. Reventure Consulting’s analytics suggest that the housing market is entering its “second stage” of correction—particularly in markets that surged during the 2020–2022 boom.

If you'd like help visualizing this with a chart or mapping which counties are hit hardest within each city, just let me know.