Where Has New Home Value Gone Down the Most in the Last Year?

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Market's Up, Values Down

The good news: The housing market has rebounded from the 2008 market crash, with the amount of apartment and housing building permits issued more than doubling over a decade and the U.S. housing market overall nearing its highest value ever, according to a recent ApartmentGuide.com study.

Still, the estimated value of new single-family construction in America actually decreased 7.9 percent between 2018 and 2019. On one end of the spectrum, there are value-rich cities such as Honolulu, where home values went up by a whopping 69 percent in 2019. The following 10 cities are experiencing the opposite—a dramatic drop in value which, the study posits, may prompt builders to construct smaller, more affordable homes.

Here are the 10 markets that experienced the biggest drop in new home value.

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#10: Tampa-St. Petersburg-Clearwater, Fla.

In the Tampa-St. Petersburg-Clearwater area, the average estimated value of a new single-family home dropped 34.7 percent in 2019.

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#9: Raleigh, N.C.

In Raleigh, the average estimated value of a new single-family home dropped 35.8 percent in 2019.

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#8: Huntsville, Ala.

In Huntsville, the average estimated value of a new single-family home dropped 37.5 percent in 2019.

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#7: Austin-Round Rock, Tex.

In the Austin-Round Rock area, the average estimated value of a new single-family home dropped 37.6 percent in 2019.

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#6: Phoenix-Mesa-Scottsdale, Ariz.

In the Phoenix-Mesa-Scottsdale area, the average estimated value of a new single-family home dropped 39.1 percent in 2019.

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#5: Salisbury, Md.-Del.

In the Salisbury area, the average estimated value of a new single-family home dropped 43 percent in 2019.

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#4: Atlanta-Sandy Springs-Roswell, Ga.

In the Atlanta-Sandy Springs-Roswell area, the average estimated value of a new single-family home dropped 44.7 percent in 2019.

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#3: Brownsville-Harlingen, Texas

In the Brownsville-Harlingen area, the average estimated value of a new single-family home dropped 47.9 percent in 2019.

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#2: Dallas-Fort Worth-Arlington, Texas

In the Dallas-Fort Worth-Arlington area, the average estimated value of a new single-family home dropped 55.1 percent in 2019.

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#1: Houston-The Woodlands-Sugar Land, Texas

In the Houston-The Woodlands-Sugar Land area, the average estimated value of a new single-family home dropped 66.1 percent in 2019.