More than half of the homes in the US lost value in the last year, according to a new national report that reveals a clear cooling in the real estate market. Despite this, prices remain considerably high, although this is mixed news, depending on the area: while it seems like a good opportunity for buyers, sellers are losing ground on profits. Data published by Zillow showed that 53% of homes in the country experienced a drop in their iaZestimate value compared to last year. This is the highest proportion since 2012, when the country was just beginning to recover from the Great Recession. The finding reflects a significant shift in a market that, for years, seemed to have no end in sight. According to the study, homes that have lost value registered an average decrease of 9.7%. This decline is greater than that observed in 2022, although it remains far from the steep drops that affected the country more than a decade ago. For millions of families, seeing their home value fall can be unsettling, especially since it is the most important asset in the home and a key piece in savings and retirement plans. Even so, the report emphasizes that most homeowners remain in a solid position. The median home value has increased by 67% since the last time they were sold. "Homeowners may feel uneasy when they see their Zestimate fall, and that is more common in today's colder market environment than in recent years. But relatively few are selling at a loss," said Treh Manhertz, senior economic researcher at Zillow. He added that price growth over the past six years has left most homeowners with a significant amount of equity. The impact of the decline is not uniform across the country. The western and southern regions show the most widespread declines. Cities like Denver, Austin, Sacramento, Phoenix and Dallas have over 87% of homes experiencing a yearly decline in value. In contrast, the Northeast and Midwest show more stability. Only three metropolitan areas in these regions have a majority of homes with declining values: Minneapolis, Des Moines, and Scranton. Another important indicator in the report is the relationship between a home's current value and its last sale price. Only 4.1% of homes in the country are worth less today than when they were purchased. That percentage has increased compared to last year, but it is still much lower than the 11.2% recorded before the pandemic. Significant losses, a drop greater than 5% from the last sale, affect only 1.6% of properties. Limited inventory also contributes to losses not resulting in forced sales. Only 3.4% of new listings on the market are priced lower than their last transaction. This indicates that homeowners are not under pressure to sell at a lower price. In areas with more pronounced declines, such as Austin or San Francisco, many homes with reduced values ??aren't even coming onto the market, suggesting that owners prefer to wait for better conditions. The report also highlights that, although the national average shows stability, each market and each property reflects different stories. Zillow reminds us that, beyond local trends, variations can occur even between similar neighborhoods or homes. Therefore, tracking a home's value should be understood as a contextual tool, not an exact prediction of what will happen if it sells. Those who bought years ago or refinanced when rates were at historic lows maintain stable payments and a more resilient financial position than other assets offer. All this information will allow you to position yourself better for the best market, whether you're a buyer or a seller, since you know where you're starting from. You may also be interested in:

Limited inventory also means that losses aren't leading to forced sales. Only 3.4% of new listings on the market are priced lower than their last transaction. This indicates that homeowners aren't under pressure to sell at a lower price. In areas with steeper declines, like Austin or San Francisco, many homes with reduced values ??aren't even coming onto the market, suggesting that owners prefer to wait for better conditions.

The report also highlights that, while the national average shows stability, each market and each property reflects a different story. Zillow reminds us that, beyond local trends, variations can occur even between similar neighborhoods or homes.

For all these reasons, tracking a home's value should be understood as a contextual tool, not an exact prediction of what will happen if it sells. Those who bought years ago or refinanced when rates were at historic lows maintain stable payments and a more resilient financial position than other assets offer.

All this information will allow you to position yourself better in the best market, regardless of whether you are a buyer or seller, since you know your starting position.

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