Home prices are falling in parts of Florida and Texas as buyers tap out and supply outpaces demand

Jessica Rinaldi/Reuters

• Home prices are falling in parts of Florida and Texas even as they soar nationally.
• Sale prices only dropped in 15 of 221 metro areas last quarter, and five were in those states.
• High prices, steeper mortgage rates, and supply catching up with demand help explain the declines.

Home prices are falling in parts of Florida and Texas as buyers tap out and supply catches up with demand.