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Nearly 6% of homes are at risk of being sold for less than their purchase price, according to a new data report from Redfin (NASDAQ: RDFN) based on active listings on the MLS during May. Last year at this time, the share was at 4.4%.

Redfin noted this situation varied across the nation’s major metros. For example, nearly 20% of San Francisco homeowners are at risk of selling their properties for lower than the purchase price, but barely any sellers in Rhode Island’s capital of Providence have that dilemma. The story also varies by property type, with condos being much more likely to be at risk of selling at a loss than single-family homes or townhouses.

Redfin also observed that nearly one in six (16.4%) of today’s sellers who bought their home post-pandemic are at risk of selling for less than their purchase price. For comparison, 9% of today’s sellers who bought their home during the pandemic are at risk of selling at a loss, while only 1.8% of sellers who bought before the pandemic are at risk.

“The longer someone has owned their home, the more likely they are to come out ahead, but that’s little comfort for those who bought more recently and may be facing a loss,” said Redfin Senior Economist Asad Khan. “Not every homeowner is listing because they want to—some are listing because they have to. In those cases, it’s important to list at a realistic price for the market and be prepared to adjust depending on buyer interest.”