More than one quarter of US homes lost value in August
The national depreciation rate was 13.6 percent in August 2014. The percent of homes gaining value increased slightly to 59.2 percent in August from 56.8 percent in July, but was still 11.5 percent lower than the appreciation rate in August 2014, Allan Weiss, CEO of Weiss Residential Research reported.
From a sample of 44,461,479 homes, some 29,754,582 homes appreciated and 11,996,932 depreciated during the month by 1.5 percent or more.
The decline in appreciating homes is occurring in the nation's hottest markets as well as those that are not faring as well during the current season. Only the top two best performing metros by percent of houses rising, Flint MI and Fayetteville AR, had more homes gaining value in August than they did a year ago.
The next eight, including markets like Denver, San Francisco and San Jose have appreciation rates that are lower than they were a year ago. ■