ORLANDO, Fla. — More than 85% of homes in Orlando have lost some value since last year, following a national trend highlighted in a new report from Zillow.
According to the report, the average home in the United States has lost about 9.7% of its value over the same period.
The findings indicate that more than half of U.S. homes have also depreciated since last year.
Several factors are contributing to this decline in housing value.
Officials from Zillow point to an increased supply of homes in the Orlando area as one significant element.
Additionally, rising insurance costs are affecting homeowner expenses and overall market stability.
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