Luckily, Texas isn't seeing as big of a drop as most states. Statewide, there's been less than a 1 percent drop when compared to January 2010. Meanwhile, New Mexico saw one of the steepest one year drops -- at more than 8 percent.
Midland is bucking the trend of dropping home prices. The Tall City's home prices actually went up by more than 1 percent from the previous year.