Housing alarm as half of all US homes fall in value — biggest drop since the Great Recession
By DANIEL JONES, US CONSUMER AND REAL ESTATE EDITOR
Published: 00:07 EST, 18 November 2025 | Updated: 04:52 EST, 18 November 2025
Home values are falling for more than half of America — the biggest share since the country was still clawing its way out of the Great Recession.
New data from Zillow shows that 53 percent of US homes have lost value over the past year, the highest level since 2012, when the housing crash finally hit bottom.
The national market looks flat on paper, but that average masks huge differences between regions, cities and even neighborhoods.
Prices have been slipping in much of the South and West as more homes hit the market and buyers stay on the sidelines.
Many would-be buyers are holding off amid recession fears, stubbornly high mortgage rates above 6 percent, and a standoff with sellers who refuse to cut asking prices.
Many of the biggest drops are in once-red-hot pandemic boomtowns. In Denver, 91 percent of homes have fallen from their peak value. It’s 89 percent in Austin, and 88 percent in Sacramento.
Florida has been hit hard too: more than 80 percent of homes in Jacksonville, Orlando and Tampa are now worth less than they were a year ago. Dallas and San Antonio are also seeing declines of more than 85 percent.
Zillow's report echoes a similar one from S&P Cotality Case-Shiller that looked at the biggest 20 US metros, and found nine had seen house prices fall.
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https://www.dailymail.co.uk/real-estate/article-15299957/us-home-values-drop-great-recession.html
