Here's how much home prices fell in April in 26 of the largest US cities - Business Insider

Using data from Zillow, the largest real estate listing platform in the US, Business Insider determined which housing markets saw a drop in prices in April. Of the 100 largest US metro areas, 26 saw a month-over-month decrease in median listing price, ranging from 0.1% to 3.3%.Of the top 5 largest declines, 2 were in the state of Florida.Visit Business Insider's homepage for more stories.

The coronavirus pandemic has brought a significant amount of US economic activity to a halt. In fact, as of May 5, around 214 million American's were still under some form of lockdown. Real estate is one of the many industries across the country grappling with an unprecedented downward shift in business.While the housing market was on the upswing at the start of 2020, it reversed course in mid-March. In fact, in the last week of March, new listings were down 36.9% from the same time last year. And by mid-April, that decline had spiked to nearly 50%, according to a report by Redfin.An April analysis by Bank of America forecast that home prices will drop by around 2.3% before hitting a bottom in April 2021. To put the housing market's sudden downward shift into perspective, prior to the pandemic, BofA had estimated that home prices would increase 4% to 5% in 2020.

But BofA added that its home price outlook is “tame” relative to its outlook for home sales, with a near 40% decline in home sales seen in coming months, as pricing will be relatively protected because of a pretty well-positioned market, with a lean inventory available.While there's still a ways to go in 2020, prices have already dropped in some markets since the pandemic worsened in March. Business Insider teamed up with Zillow, the largest real estate listing platform in the US, to find out which US housing markets saw a drop in home prices in April. In a sign that BofA's forecast may prove correct, the declines were relatively slight, ranging from 0.1% to 3.3%.Of the 100 largest metro areas in the US, Zillow found that 26 saw a decrease in the median listing price from April 3 to May 3. Keep reading for the list, ranked from the smallest to the largest month-over-month decrease.