1 in 4 U.S. Homes Decline in Value

san-francisco-210230_1280According to a recent study, 1 in 4 U.S. homes are now worth less than they were a year ago, although, a custom home is still at a higher price.

Markets in the northeast such as Washington, D.C., Baltimore and Philadelphia slammed especially hard with declines hitting more than 40 percent of the residences in their areas.

It wasn’t much better in metro areas in the Midwest, with Pittsburgh, Chicago, Cincinnati and Cleveland all seeing declines affecting more than 30 percent of the homes for sale lakewood, co.

Find out more at CBS Money Watch.

Photo courtesy of: tpsdave