Markets & Economy

Nearly 50 percent of homes in 10 large markets lost value in May

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Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers. Takeaways: Nearly half of homes in the 10 largest U.S. markets lost value in May 2015. 54 percent of homes in the 10 largest markets appreciated during May. Los Angeles saw the biggest dip, with 94 percent of homes appreciating in May 2014, compared with just 46 percent in May 2015. Median home price appreciation on a national and regional basis is occurring; however, nearly half of homes in the 10 largest U.S. markets lost value in May, according to Weiss Residential Research. “Don't be fooled by averages,” said Allan Weiss, founder and CEO of the research firm. “All of the largest metro indexes are rising more slowly than they were a year ago, though market reports give the impressi...