The U.S. housing market is currently experiencing a cooling trend, with home prices dropping in various regions, particularly in southern parts of the country. Notably, 14 major U.S. metros, including places in Florida and Texas, have seen significant declines. Despite these drops, the Northeast region is bucking the trend, with prices continuing to rise. A recent report indicates that pandemic-era boomtowns are among those facing the most substantial price cuts. Jacksonville has been particularly hard hit, requiring substantial price reductions to attract buyers. As inventory piles up and homes take longer to sell, buyers appear to be gaining the upper hand in many markets, with more than a quarter of home sellers nationwide reducing their asking prices. In contrast, some cities, such as those in the Northeast, continue to see an upward trajectory in home values. Overall, the national housing landscape is marked by stark regional differences, prompting concerns about potential future crashes in markets where prices are falling.