3 Of America's Worst Housing Markets Are In NorCal: Ranking

CALIFORNIA — Three of the nation’s worst housing markets for growth are in Northern California, according to a recent ranking from GOBankingRates.

The personal finance website looked at one- and two-year percentage home value change, mean days from pending to close, share of listings with a price cut and mean price cut in the country’s 200 largest metro statistical areas to determine the worst 50.

Santa Cruz came in eighth on the list, with a 5.67 percent two-year drop in home values. The typical home in Santa Cruz as of June was priced at $1.18 million, but 20.08 percent of listings had a price cut, with a mean reduction of $89,350, according to GOBankingRates.

At 40th on the list was San Francisco, where the typical home in June was also $1.18 million and values were down 7.27 percent compared to two years ago, the website said.

Also on the list was Salinas, at 50th, with a June home value of $844,402, a mean price cut of $80,737 and a 20.39 percent share of listings with a price cut, according to GOBankingRates.

Housing markets in Texas and Florida in particular are struggling, the ranking revealed. The three worst markets were Austin at No. 1, New Orleans at No. 2 and North Port, Florida, at No. 3.

View the full ranking from GOBankingRates.