The total decline in US home values since the market peak in June 2006 is now at 29.5 percent, according to real estate company Zillow. This represents an absolute decrease of $10.06 trillion. There are a number of forces behind this massive decline. There currently is weak demand for housing, leftover in large part from the build-up in inventory during the housing bubble. Unemployment is still relatively high, hovering around 9 percent. Additionally, high foreclosure rates and underwater mortgages are further depressing home values. There are approximately 2 million homes in the foreclosure process and more than 1.5 million additional homes which are seriously delinquent.