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Half of US Homes Lost Value Over Past Year: Zillow
Zillow reports the highest share of U.S. homes losing value since 2012 with 53% declining and an average drop of 9.7% from peak valuations nationwide.
- On Nov. 17, Zillow published an analysis showing that as of October 2025 about 53% of U.S. homes saw their Zestimates decline year-over-year, the largest share since around 2012.
- Higher borrowing costs and market inertia have left the Federal Reserve rate-hiking period 2022–2023 freezing much of the market, while weak demand shifted power to buyers and delistings soared this year as sellers withdrew listings amid supply constraints.
- Data reveal that Zillow found an average drawdown from peak of 9.7% and median gains of 67% since last sale, with 4.1% of homes below last sale in October.
- Zillow and its researchers say home values surged over six years, leaving most homeowners with significant equity and few selling at a loss, while the National Association of Realtors expects a market rebound next year.
- Because many declines are unrealized, Zillow said losses are most widespread in the West and South while some metros show large long-term gains.
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Total News Sources23
Leaning Left1Leaning Right3Center13Last UpdatedBias Distribution76% Center
Bias Distribution
- 76% of the sources are Center
76% Center
C 76%
R 18%
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