Over half (53%) of U.S. homes lost value in the past year, according to Zillow.

Why it matters: That's the most since 2012 — but the vast majority of homeowners still "have plenty to feel good about," the real estate site reports.

State of play: Many homeowners bought before prices surged in the early 2020s. As of October, the median home value had jumped roughly 67% since the property was last sold. • Just 4% lost value in that time, around 8.5 years for the typical homeowner. • Losses between sales are up slightly from a year ago (2%) but lower than pre-pandemic levels (11%).

The big picture: It's a homebuyer's market right now, if you can afford it. Persistently high mortgage rates and prices have sidelined many. • Nationwide, home sellers outnumber buyers by a record 37%, Redf

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