Home Prices Drop One Point Five Trillion Since May

(Jacksonville, FL) — Home prices are dropping dramatically. According to mortgage software company BlackKnight, the market has seen a one-point-five trillion dollar drop in home equity since May. After home prices jumped 45 percent in the first two years of the pandemic, by September prices had fallen on a month-to-month basis for the third month in a row. The average borrower lost 30-thousand dollars in equity.