More than half of U.S. homes have dropped in value over the last year — and nearly all houses in these cities have seen losses
NegativeFinancial Markets
- More than half of U.S. homes have experienced a decline in value over the past year, marking a significant shift in the housing market after years of rising prices. This trend indicates a normalization rather than a crash, as most homeowners still retain considerable equity in their properties.
- The downturn in home values is particularly concerning for companies like Home Depot, which relies heavily on homeowners as its primary customer base. The company has reported a sales slump, attributing it to the ongoing stagnation in the housing market, which has left many homeowners hesitant to invest in home improvement projects.
- This situation reflects broader economic challenges, as the housing market's stagnation not only impacts homeowners but also affects related industries. The decline in home values and the resulting consumer hesitance can lead to reduced spending in home improvement and construction sectors, highlighting the interconnectedness of the housing market with overall economic health.
— via World Pulse Now AI Editorial System
