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Published: Aug 22, 2022 4 min read
A House With An Oversized Downwards Pointing Arrow Behind It
Money; Shutterstock

Home values decreased for the first time in a decade, according to Zillow, and that's just one of several signs it's finally getting easier to buy a house.

The Zillow Home Value Index dropped in July for the first time since 2012, according to new data from the real estate website. The index, which uses Zillow data to measure the value of a typical home, fell 0.1% on a monthly basis. That represents a $366 decline and brings the typical home value in the United States to $357,107.

That decrease may not seem like a lot (home values are still significantly higher than they were last year and the year before), but it’s likely a welcome relief for buyers who have been struggling in the red-hot market.