A tiny dip in nationwide home values has analysts wondering whether the big run-up in U.S. residential values is over.
Home values across the country fell for the first time in seven years in April — down 0.1% from March, according to a report from Zillow.
Most of the decline was attributed to larger decreases in West Coast housing markets.
Prices were down in Dallas-Fort Worth, too.
The drop in prices — while very small — adds to growing evidence of changes in the housing sector.
“The widespread decline in home value growth in April — the first in many years — will turn heads,” Zillow economic research director Skylar Olsen said in the report. “But it’s too early to say if we’ve hit another national home value peak and are at the beginning of a sustained downturn or if this is just a bump in the road.
