New York and Washington D.C. Experience House Valuation Slump

September 4, 2015

From June 2014 to June of this year, the values of 45 percent of single-family houses in Washington and New York declined by at least 2 percent, according to Financial Post.

The trend may be due to the rise in U.S. home prices over the last several years combined with weak income growth in large cities. Housing has become less affordable and credit remains tight.

Other cities like Los Angeles, Chicago and Phoenix also saw more properties fall in value.

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