【Zillow】Home Prices Dropped in December Before Mortgage Rate Relief Arrived (December 2022 Market Report Preview)

• The typical U.S. home value fell slightly from November to December (-0.2%), as high interest rates further discouraged home buyers. U.S. home values are still 8.4% higher than a year ago.
• Seattle saw the sharpest home value decline month-over-month (-4.8%).
• Home values were lower than last December in Austin (-4.2%), San Francisco (-2.0%), Seattle (-0.6%), and San Jose (-0.0%). 
• Active inventory climbed to a 15.9% year-over-year increase in December.
• New listings sank 27.8% from last year’s flow of newly added listings.

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