Home owners are losing THOUSANDS on their home values

The US housing market is currently in the midst of an unprecedented decline in home prices - with properties in some cities selling for hundreds of thousands of dollars less than they were just a year ago.

The concerning data was laid bare last week by Redfin, and marks a significant shift in the American real estate landscape following a historic surge seen during the Covid-19 pandemic.

Somewhat unexpected, the numbers unveiled two cities in the Bay Area as some of the worst offenders when it came to decline by dollar amount, a phenomenon researched said is fueled in part by diminishing demand and the looming possibility of a recession.

Other notable declines occurred in major metros like Austin, Boise, Salt Lake City, Seattle, and Los Angeles - all of which saw their median home price shed at least $60,000 since April of last year.

The only two to record six-figure decreases, however, were the aforementioned regions in Northern California, San Francisco and Oakland - wh...
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