The US housing market is currently in the midst of an unprecedented decline in home prices - with properties in some cities selling for hundreds of thousands of dollars less than they were just a year ago.
The concerning data was , and marks a significant shift in the American real estate landscape following a historic surge seen during the pandemic.
Somewhat unexpected, the numbers unveiled two cities in the Bay Area as some of the worst offenders when it came to decline by dollar amount, a phenomenon researched said is fueled in part by diminishing demand and the looming possibility of a recession.
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