A big drop in home prices is great news unless you're one of the sellers. Depending on which side of that equation you're on, data showing one Missouri town having the 2nd biggest drop in home prices in America is either great or awful news.

I saw this interesting look at places where home prices are actually falling by 24/7 Wall St and was shocked to see a Missouri place almost at the top of the list. It's not a big town by any means. Wikipedia says the population was only 12,184 in the most recent census.

Google Maps Street View
Google Maps Street View

The Missouri town with the 2nd biggest drop in home prices in America is West Plains.

Here's the data that earned West Plains this infamous home price honor:

  • Year-over-year change in median list price: -9.9% (-$27,550)
  • Median list price in May 2024: $249,900 ($138 per square foot)
  • Size of a typical listed home in May 2024: 1,828 square feet
  • Number of listed homes in May 2024: 237 (+28.5% YoY)

That's very recent data so I'd place more credence to this ranking than most of those I see shared on the internet. That being said, I think the small population is one of the reasons why you're seeing it on a list like this. Per capita, it doesn't take many homes to lose some value before it appears the entire town is plummeting. My point? Perhaps don't lose heart, West Plains, Missouri homeowners. 

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