Metro Denver is leading the country for the share of homes that have lost value over the past year, with 9 in 10 homes down in price compared to only half nationally, according to an analysis from Zillow .

About 91% of metro Denver homes lost value in the past year compared to 53% nationally. Denver edges out other once-hot metros like Austin, with 89.5% of homes down in value and Phoenix, with 86.9% down the past year.

Home prices have bounced around in a narrow band since the peak in June 2022, making it hard to discern the overall trend. Overall, Denver home prices are about 10% below the peak, matching the average decline measured nationally, Zillow said.

“Denver’s home values were growing in 2024, so it’s natural to see a bit more giveback now. What stands out more is the depth o

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