7 Southern Cities Where Home Prices Are Expected To Crash in the Next 12 Monthsf11photo / Shutterstock.comCommitment to Our Readers GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. Zillow also reported that 4.1% of homes are now worth less than their previous sale price, while 1.6% have declined by more than 5%. Zillow’s latest data and forecasts pointed to a modest national correction over the next 12 months, but the impact has been most pronounced in Southern cities. Based on Zillow’s home price data and industry projections, the following seven Southern cities are expected to experience sharp price declines in the year ahead. Cape Coral, FLYear-over-year change: -10.2%-10.2% Median list price: $409,633$409,633 Median sale price: $354,000Cape Coral will experience one of the largest price corrections, about 10.2%, as a result of rising inventory and insurance premiums, said Geremy Yamamoto, founder of Eazy House Sale.