While homes are losing their values at a recent high, homes in Connecticut’s three main metro areas are retaining their value better than their counterparts across the country.
Just 12.7 percent of Greater Hartford homes lost their value according to a new analysis by listings portal Zillow. In Fairfield County that figure was 9.1 percent while in New Haven County it was 14 percent.
In addition, Zillow found 1.3 percent of new listings in Hartford and Middlesex counties were priced below their last sale value. The median home in the region had increased in value by 72 percent from its last sale and the average was only 5.7 percent less valuable than at its peak.
But in the United States at large, 54 percent of homes are losing their value, the highest share since 2012 according to Zillow. In all, 3.4 percent of new listings were priced below their last sale value. Additionally, most American homes have lost value from their peak, with the average decline at 9.7 percent.
And nearly 21 percent of Greater Boston homes lost their value. Additionally, just 1.1 percent of new listings there were priced below their last sale value.
“Homeowners may feel rattled when they see their Zestimate drop, and it’s more common in today’s cooler market environment than in recent years. But relatively few are selling at a loss,” Treh Manhertz, senior economic researcher at Zillow, said in a statement. “Home values surged over the past six years, and the vast majority of homeowners still have significant equity. What we’re seeing now is a normalization, not a crash.”






