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New Homeowners Lose $122,000 as Housing Prices Drop (Newsweek) New homeowners across the U.S. are confronting a rapid depreciation in their home values. With recent data showing an average loss of $122,000 in home value in some areas, the American Dream is showing signs of wear. The past year has seen the American housing market shift, and property values are now in "freefall," according to a November study issued by Point2Homes. Owners who battled historic mortgage rates to purchase their homes are now facing a market in retreat as single-family homes shed up to $223 daily in value. In 2022, a wave of over 5 million homes were sold in the U.S., with a quarter of the purchases made by first-time buyers, according to a report from the National Association of Realtors. Some of those new entrants to homeownership now find themselves underwater as the market value of their homes recedes.