Zillow: Mortgage Rate Dip Improves Affordability as 53% of U.S. Homes Lost Value

Home values for 53% of U.S. households have declined since last year, the highest share since 2012, according to new research from Zillow. 

However, most homeowners have seen their home’s value increase significantly since owning it. Selling at a loss is rare, with just over 4% of homes declining in overall value since the last time they were sold. 

Additionally, Zillow reported that an October dip in mortgage rates has put affordability at a three-year high, driving a 5% annual increase in new listings and pending sales. Despite the year-over-year decline in many homes’ value, owners are now encouraged by lower mortgage rates to list.

Read more about home value declines here.

Read more about mortgage rate dips here.