BAY AREA CITIES have experienced some of the biggest drops in home prices across the country, according to a new study evaluating typical home values from May 2022 to May 2023.

According to the report by investment advising company SmartAsset, San Francisco was the largest city in the top 10 list for price reductions, with home values falling by 13 percent from 2022 to 2023. Palo Alto and Dublin saw similar declines. The company used Zillow Home Value Index data from May 2022 and May 2023 for single-family homes, condos and housing co-ops.

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Catherine Allen is a data intern through the Dow Jones News Fund. She is a rising senior at the California Polytechnic State University in San Luis Obispo, with a major in journalism and minor in statistics. Catherine previously served as editor in chief of Mustang News, Cal Poly’s multimedia news organization. She is passionate about public policy’s impact on communities and individuals and often writes about housing and homelessness, public health and politics.