Zillow report shows 36% of homes in Lincoln saw a decrease in value over the past year

LINCOLN, Neb. (KLKN) — A new report from Zillow shows a sharp decrease in home values across the United States.

Over 53% of U.S. homes lost value in the past year, and right here in Lincoln, 36% saw a decrease, according to Zillow.

“I’m going to say that, have we lost value? Maybe some homes have,” said Joanne McCoy, a realtor with Woods Bros Realty. “But if you look at the big picture from maybe 5-10 years ago, we still have done really well on home prices.”

Channel 8 reached out to the Lancaster County Assessor’s Office. They do not release home valuation reports until after the first of the year, but they believe some homes may have decreased in value.

McCoy said there could be multiple reasons some homes in the capital city have lost value.

“The thing that’s going to affect the home prices for a lot of people is going to be the time of year,” she said. “Which, right now, we’re a little bit slower; it’s going to happen around the holidays. Interest rates are not where they were when they were crazy low, so they’re still going to hold some buyers back.”

McCoy said homes are either staying on the market longer or homeowners are taking them off and waiting.

But despite the shift being seen nationwide, she believes homes across Lancaster County are still doing pretty well.

“Here in Lincoln, we’re pretty boring,” she said. “You might have some parts of the country where they increased in value overnight by 15%. We don’t do that, which is not fun, because you want to see improvements, but we don’t have to go through those dramatic drops in home prices either.”