The month of November could be foreshadowing of the
The percentage of homes in the U.S. that rose in value in November fell to 57.9% of all homes, according to Weiss' data. That's down from 59.4% in September.
Weiss Analytics, in Natick, Mass., in December predicted that the number of homes that will gain in value on a monthly basis would decline in 2016, after three years of double-digit price increases. The November data had not been released at the time of its prediction.
"The steady erosion of homes that are appreciating is continuing," Allan Weiss, CEO of Weiss Analytics, said in a Wednesday news release.
"This is nothing like the rate of erosion we saw in the percent of houses rising in the 18 months prior to the housing meltdown," he said. "However, this steady decline in appreciation is concerning."
The fastest-appreciating metropolitan area in the U.S. in November was Reno, Nev. However, Nevada's second largest city saw its rate decline 14.5% from the prior year, dropping to 85.5% from 100%. After Reno, the fastest-appreciating metro areas were Port St. Lucie, Fla.; Portland, Ore.; Flint, Mich.; and Santa Rosa, Calif.
The slowest-appreciating metro areas in November were Oklahoma City and Fayetteville, Ark.
