A study by Zillow, released on Monday, found that 53 percent of all U.S. homes have seen their valuations drop compared to last year, with a nationwide average decline of 9.7 percent compared to their peak price. This is a nation-wide issue. Locally we have seen decreases in condos and some pockets of detached homes. Other areas are still holding steady. It really comes down to inventory and desirability in various areas whether or not the prices are stable or dropping. According to the Zillow article, "Loss of value over the past year has been most widespread in the West and South. Most major metros in these regions have seen half or more of their homes lose value. More homes have slid in Denver than in any other metro, 91%, followed by Austin (89%), Sacramento (88%), Phoenix and Dallas — both at 87%."
Buyer's Markets?
