The Hartford metro area is in the top 10 for percentage of homes depreciating in price. It ranks fourth nationwide among the top 150 metropolitan areas in the U.S.
Weiss Analytics, a Massachusetts firm that tracks real estate prices, said in a report released today that 41.2 percent of the homes in the Hartford-East Hartford-West Hartford metro area decreased in value in November 2015. That was relatively unchanged from the November 2014 figure of 40.8 percent.
In its report, Weiss Analytics said the percentage of U.S. homes gaining value fell again in November. Only 57.9 percent of homes are now appreciating, down from 59.4 percent in September and 6.4 percentage points below the percent of houses appreciating in November 2014.
Reno, Nevada, was the top market for appreciation in November with 85.8 percent homes increasing in value.
“The steady erosion of homes that are appreciating is continuing,” said Allan Weiss, CEO and founder of Weiss Analytics. He added that many leading housing economists, including those at Fannie Mae, Freddie Mac, Case Shiller, Clear Capital, and CoreLogic, expect median price appreciation to slow in 2016.
