Homes in the Huntington West Virginia area have depreciated, but not at the alarming rate of other areas. Generally they are flat, to -5% to 10%. That being said, the real issue in this market and many others is finding qualified borrowers to purchase your house. lending has so many obstacles, that it's become very difficult to sell your house. This seems will remain the trend for a while. lenders have become very very tight with regard to underwriting guidelines, not that i blame them. This is coming from a branch manager of 14 years in the industry. House prices decline, because no one can get a loan for them, Debt to Income guidelines have also become more stringent, which means people can not buy as much of a home as they could have years back, not to mention the down payment requirements.
I digress, the point is, home prices fall, when the pool of qualified borrowers shrinks.