4 Places Where Homeowners Are Losing Equity Now

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Unhappy homeowner
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Most homeowners across the country just got some good news about the value of their homes.

During the third quarter, average home values were up about $20,000 year-over-year nationwide, according to CoreLogic’s latest Homeowner Equity Insights report.

But a handful of housing markets did not experience such good fortune. In these places, overall home values dipped during the third quarter compared with one year earlier.

Here are the areas where homeowners are seeing some of their equity slip away.

Washington, D.C.

Washington, D.C. traffic with Capitol Building in background
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Average homeowner equity loss over the past year: $100 as of the third quarter

If you live in the District of Columbia, your home likely has lost a tiny fraction of its value during the past year.

If you plan to buy a home soon, stop by the Money Talks News Solutions Center and search for a great mortgage rate.

Utah

Saint George, Utah
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Average homeowner equity loss over the past year: $100 as of the third quarter

Dipping home values — albeit just slightly — in Utah might be good news for younger buyers who want to move to the Beehive State but do not have deep pockets. Salt Lake City is among the “15 Places With the Most Gen Z Homebuyers.”

New York

Utica, New York
Mahmoud Suhail / Shutterstock.com

Average homeowner equity loss over the past year: $8,000 as of the third quarter

Home values have fallen year over year in New York, but one thing has not changed: New York City itself remains No. 1 on the list of “The 10 Most Valuable Housing Markets in America.”

Texas

Midland Texas
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Average homeowner equity loss over the past year: $9,000 as of the third quarter

In recent years, Texas has been a magnet for attracting new residents. However, things are softening in some places, particularly in Austin.

The state’s capital city has become too expensive for many folks, as we noted in “10 Places Where Homes Sit on the Market the Longest.”

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