More than half of US homes lost value in the past year
https://finance.yahoo.com/news/more-than-half-of-us-homes-lost-value-in-the-past-year-171219733.html
Home values are falling for more than half of the nation, the biggest share in more than a decade, when the US was still struggling to claw out of the Great Recession.
As of October, 53% of homes in the country had lost value in the past year, according to Zillow data. Nationally, home price appreciation has been roughly flat, but that figure masks large regional disparities. Home prices are falling in much of the Southeast and parts of the West, while they’re rising in many cities in the Midwest and Northeast.
Prices have been cooling in much of the country this year as inventory levels have climbed, but buyer demand hasn’t materialized. Many would-be buyers have remained on the sidelines amid economic uncertainty, mortgage rates above 6%, and an ongoing price standoff with sellers.
