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Home values have been coming down since they peaked in June of last year. A Redfin report shows the U.S. total went as high as $47.7 trillion before it dropped to $45.3 trillion in December. That’s a 4.9% decline and the largest June-to-December percentage drop since 2008. The report also shows that home values in some markets are holding up well, with double-digit year-over-year gains.   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. Please don’t forget to subscribe to our podcast, and leave us a five-star review if you like what you hear!   According to Redfin, December year-over-year home values were still 6.5% higher nationally, but that’s the smallest year-over-year increase since August of 2020. The analysis included data on 99 million U.S. residential properties in the top 100 metros for population. (1)   Fight Against Inflation Impacting Home Values   Property values started declining after what seemed like an unstoppable run-up in home values. Inflation really took off after all the