(NewsNation) — Across the nation, 10 ZIP codes have seen noticeable drops in home prices since 2024, with costs dropping by up to 25%, according to new research from Realtor.com.

Notably, the 12-month tumble in listing prices was not confined to one region or state. The reasons behind the dropoffs are varied, according to Hannah Jones, a senior economic research analyst.

In the report, Jones said these locales’ housing markets are likely already regulating themselves.

“Areas where prices climbed quickly may be seeing a correction. ZIPs where inventory has started to build up, as is the case in much of the South, could see prices fall as sellers look to attract buyer attention,” Jones said.

Spotswood, New Jersey

The location with the sharpest decline in home prices is Spotswood, a small town located roughly 40 miles outside New York City.

The current median home price is $449,000, down 25% year-over-year.

South Elgin, Illinois

Situated along Illinois‘ Fox River about an hour outside of Chicago, South Elgin recorded a 25% drop in home prices in the last year.

The median home price comes in at $384,900.

Carlsbad, California

Carlsbad is one of the most expensive areas on the list, with median home list prices hitting a whopping $1.19 million.

Located just north of San Diego, the California city’s pricey listings dropped 25% year-over-year.

Raleigh, North Carolina

North Carolina’s capital has seen a 25% drop in home prices in the last 12 months, with median prices ringing in at $465,000.

Tomah, Wisconsin

Central Wisconsin’s city of Tomah saw a similar 25% drop in home prices in the past year. Median home listing prices dropped to $225,000.

Other areas with the steepest price drops include DeQuincy, Louisiana (25%); North Miami Beach, Florida (25%); San Jose, California (25%); York, Maine (24.9%); and Schenectady, New York (24.9%).