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| Zillow Home Value Index - September 2011 |
But there is some good news for homeowners! The foreclosure rate has decreased by 2 percent since September 2010 to 8.7 percent. We hope this trend continues!
Thursday, November 10, 2011
Home Vales Dip
Home values are unfortunately still on the decline from their June 2006 peak, according to an article from Inman News. Values declined by 0.2 percent from the second quarter to the third quarter, and by 4.4 percent compared the 2010 third quarter. According to Zillow, home values will most likely reach the bottom in 2012 after declining by another 3-5 percent.
Zillow tracked 157 metropolitan areas such as New York, Philadelphia, Detroit, Seattle and Tampa found that 86 percent of the areas annually saw home values decrease. Also, out of the 25 largest metropolitan areas such as Orlando, Denver, San Diego and Phoenix, all but Pittsburgh saw annual decreases.
But there is some good news for homeowners! The foreclosure rate has decreased by 2 percent since September 2010 to 8.7 percent. We hope this trend continues!
But there is some good news for homeowners! The foreclosure rate has decreased by 2 percent since September 2010 to 8.7 percent. We hope this trend continues!
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