U.S. real estate: Homeowner losses - $2.3 trillion since June, Redfin data.

buyers.

As a result, Americans have become more reluctant to purchase homes and home prices have fallen. The average sale price of U.S. homes in January was $383,249, up just 1.5 percent from a year earlier.

Redfin highlighted the Bay Area, noting that the area had the largest decline in real estate values compared to other parts of the country. For example, the total value of homes in San Francisco fell 6.7 percent in December to $517.5 billion, a decline of $37.3 billion from a year earlier.

"Three of my real estate listings recently went into contract after sitting on the market for more than a month," said Ali Mafi, a Redfin Realtor in San Francisco mentioned in the note. "They''There were fall showings for a while, but no buyer wanted to make a deal. And suddenly in the new year, every property had 10 or 15 people at viewings. "

In the meantime, the report notes, Florida's real estate market remains stable, with the largest increase in property values compared to other parts of the country. The total value of Miami homes rose 19.7 percent ($77 billion) to $468.5 billion in December.

"Florida's real estate market is supported by people moving from the North and, more recently, the West Coast," said Elena Fleck, a Florida realtor mentioned in the report. "People are moving in droves from New Jersey and New York, mainly because Florida has relatively affordable housing and no income tax.