More than half of U.S. homes have dropped in value over the last year — and nearly all houses in these cities have seen losses

More than half of U.S. homes have dropped in value over the last year — and nearly all houses in these cities have seen losses

“Home values surged over the past six years, and the vast majority of homeowners still have significant equity. What we’re seeing now is a normalization, not a crash.”

November 22, 2025

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