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Map shows home values dropping in half the country as housing market shifts

According to Zillow, monthly home values dropped in 27 out of the 50 states.
A recent analysis by Zillow indicates that home values are declining across nearly half of the United States, with significant drops observed in the West, particularly in cities like San Francisco and Seattle, where values have decreased by 11.1% and 10.3% respectively over the past year. This trend is attributed to a combination of factors including rising mortgage rates, which have increased from around 3% to over 7%, and a shift in buyer demand towards more affordable regions. Despite the declines, some areas like the Midwest and Northeast are experiencing stable or slightly increasing home values, suggesting a varied impact across different regions of the country.

Read the Full Newsweek Article at:
https://www.newsweek.com/map-shows-home-values-dropping-half-country-housing-market-shifts-2074904

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