A recent study suggests that the value of one in every four homes in the U.S. has diminished compared to the previous year, even though custom homes maintain higher asking prices. Particularly significant declines of over 40 percent have been observed in the northeastern markets such as Washington, D.C., Baltimore, and Philadelphia, affecting a considerable portion of residential areas.
The situation isn’t much rosier in the Midwest’s metropolitan regions like Pittsburgh, Chicago, Cincinnati, and Cleveland, witnessing value reductions in more than 30 percent of their homes listed for sale in Lakewood, Colorado.
For more details, visit CBS Money Watch.
Image credits go to: tpsdave
