Summary
More than half of U.S. homes lost value in the past year, according to Zillow. Despite this, most homeowners have seen long-term gains in their home's worth since they originally bought them.
Key Facts
- 53% of homes in the U.S. have lost value in the past year.
- This is the highest percentage of home value losses since 2012.
- Home values increased by about 67% since they were last sold.
- Only 4% of homes have lost value over the typical ownership period of 8.5 years.
- High mortgage rates and house prices make it a good time for buyers if they can afford it.
- The regions with the most homes losing value are in the West and South.
- Major cities like Denver, Austin, Sacramento, Phoenix, and Dallas saw the largest losses.
- In the Northeast and Midwest, only a few cities like Minneapolis, Des Moines, and Scranton saw similar trends.
