5 Types of Homes That Will Plummet in Value in 2024

Why These Homes May Decrease in Value?

Several variables contribute to these home types' expected value drop. Economic uncertainty, shifting buyer preferences for sustainability and modern facilities.

1. Homes in Climate-Vulnerable Areas

Homes in hurricane-prone coastal areas, flood zones, and wildfire-prone places may lose value.

2. Outdated Single-Family Homes

Single-family houses that haven't been upgraded or refurbished in decades are less appealing to potential purchasers. 

3. Luxury Urban Condos

The epidemic altered many people's preferences away from congested urban living and toward more spacious suburban or rural residences. 

4. Homes Near Polluting Industries

Polluting enterprises like factories, refineries, and highways will devalue nearby properties. Buyer preferences are changing due to environmental and air quality concerns.

5. Oversized Properties in Declining Neighborhoods

Oversized properties, especially in neighborhoods with declining economic conditions or local amenities, are expected to lose value.