What are the Trends in American Home Values?

If you are in the market to buy a new home, understanding trends in home values is essential. With a shortage of active credit facilities and historic low appetite for credit-backed securities (which drive lending), one must be aware of the present trends and data that drive lenders acceptance of residential real estate as collateral, and in turn, are willing to loan home buyers the money to purchase a new home.

Map of Home Value Decline in the United States
(September 2008)
State Averages by Color Code:
Red: More than 10% decline
Orange: 5% - 10% decline
Yellow: 0% - 5%
Green: 0% - 2.5%
Dark Green: More than 2.5% increase in Value


As of September 2008:

  1. California -29.85%
  2. Nevada -24.99%
  3. Arizona -21.09%
  4. Florida -17.54%
  5. Rhode Island -14.96%
  6. Hawaii -14.30%
  7. United States -11.24%
  8. Minnesota -9.71%
  9. Wyoming -8.92%
  10. Washington -8.80%
  11. Michigan -8.01%
  12. New Hampshire -7.52%
  13. Maryland -7.39%
  14. Illinois -6.93%
  15. Oregon -6.44%
  16. New Jersey -6.21%
  17. District of Columbia -6.12%
  18. Virginia -6.08%
  19. Connecticut -5.92%
  20. Massachusetts -5.85%
  21. Ohio -5.38%
  22. New York -5.24%
  23. Alabama -4.88%
  24. Georgia -4.87%
  25. Wisconsin -3.75%
  26. Pennsylvania -3.65%
  27. Colorado -3.39%
  28. Tennessee -2.75%
  29. Louisiana -1.45%
  30. Nebraska -1.44%
  31. South Carolina -1.23%
  32. Delaware -1.20%
  33. Alaska -0.90%
  34. Kentucky -0.87%
  35. North Carolina -0.73%
  36. Idaho -0.35%
  37. Utah 0.00%
  38. North Dakota +0.43%
  39. Oklahoma +0.61%
  40. Arkansas +0.62%
  41. New Mexico +0.72%
  42. Vermont +0.76%
  43. Maine +0.79%
  44. Iowa +0.92%
  45. Missouri +1.12%
  46. Kansas +1.38%
  47. Montana +1.48%
  48. Indiana +1.98%
  49. Mississippi +2.14%
  50. South Dakota +2.17%
  51. Texas +2.61%
  52. West Virginia +4.60%

ALL real estate professionals know that home values are local phenomenons. No one can dispute that within any given locale there will be declining markets, stagnant markets and appreciating markets.
Understanding real home value trends from the lenders perspective can provide the understanding and guidance for you in your search for a new home.

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Posted by Laura