Larger share of U.S. homes sell at a loss

Axios -  A growing proportion of homeowners are selling their houses for less than they paid for them, according to Redfin data exclusive to Axios.  Some homeowners are losing six-figure amounts, Axios' Brianna Crane reports.  More than 3% of U.S. homes sold at a loss August–October 2023 — up from 2.4% a year ago, Redfin found. The median loss was around $40,000.

The highest proportion and largest losses were in San Francisco. Roughly 1 in 7 S.F. owners lost money on their home sale, with a median loss of $122,500. Detroit, Chicago, Cleveland and New York were also among the top five cities with the highest proportion of losses — all north of 6%. Losses were least common in Providence, R.I.; Anaheim, Calif.; San Diego, Boston; and Fort Lauderdale.