KANSAS CITY, Mo. — Home values are falling for more than half of U.S. households. New research from Zillow shows 53% of all U.S. homes have lost value since last year – the biggest drop since 2012.
But, according to Zillow, the vast majority of homeowners have seen their home values rise substantially in the time they’ve owned them – 67% growth at the median – and losses are rare.
Zillow said the continued lack of homes for sale indicates that the overwhelming majority of sellers are not being forced to sell at a discount. Nationally, only 3.4% of new listings coming to market are priced below their last sale price. That’s up slightly from 2.1% a year ago, but is still more than half the 2019 rate of 5.9%…