DALLAS — The value of about 53% of U.S. homes dropped last year, marking the fastest decline in value since 2012, according to a new study from Zillow.

The decline, which was measured between October 2024 and October 2025, is even steeper in Dallas, according to the study. The decline is measured by the home's Zestimate, which is determined by an algorithm that combines public records, user-submitted data, and comparable home sales.

Despite declining home values, it's rare for a home to sell for less than its previous sale price, the report says. Although the percentage of homes selling for less is rising, according to Zillow.

In Dallas, nearly 87% of homes lost value this year, the report says. Home value loss has been the steepest in the West and the South, both regions that saw

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