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Michigan home values fall

Home values
Home values

DETROIT (WKZO) -- New data shows that Michigan suffered some of the worst housing losses during the recession.

According to new Census data released today, among the 50 largest cities nationwide, Detroit had the lowest median home value and Wayne County had the lowest among the 50 largest counties.  In Metro Detroit home values fell 24-percent to roughly 120-thousand dollars, they fell 29-percent in Wayne County to 83-thousand dollars and 41-percent in Detroit to 48-thousand dollars.

Michigan tied Nevada for the largest drop in ranking since 2007, falling from 33rd to 47th in home value.