Hi Nichole, Every market is different, but most have declined from a year ago. If your life is taking you in a direction that causes you to need to sell, then price it properly and be on your way. If you have the flexiblity to stay put, then settle in, enjoy your home and wait it out. The days of buying property for short term gain are over in my opinion. Hopefully you bought your home as a place to live rather than a one year speculation play.
In terms of treatment of gain or loss and how it affects your particular financial position, this will be a good question for a financial advisor.
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