(866) 519-9597

Home Values Slip After Nearly Four Years of Growth

by | Aug 25, 2015

The housing market is slowing down, with home values seeing the first negative monthly change in nearly four years

By Jeff Sorg, OnlineEd Blog

housing graph 3OnlineEd (August 21, 2015) – According to the Zillow® July Real Estate Market Reports, the housing market is slowing down, with home values seeing the first negative monthly change since the market began its recovery nearly four years ago.

The report indicates that national homes appreciated three percent on an annual basis, down from 3.4 percent in June.

  • Homes lost 0.1 percent of their value in July, falling to a Zillow Home Value Indexof $179,900.
  • Homes appreciated three percent on an annual basis, down from 3.4 percent in June.
  • Of the 517 metros covered in the Zillow report, 204 saw a slowdown.

“This slight dip in home values is a sign of the times. Many people didn’t think it was happening, but it is: we’re going negative,” said Zillow Chief Economist Svenja Gudell. “We’ve been expecting to see a monthly decline as markets return to normal. However, this is not like the bubble bust. We’re not going to see 10 percent declines. The market is leveling off, and it’s good news, particularly for buyers, because it will ease some of the competitive pressure.”

###

For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers, visit www.OnlineEd.com.

 All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained by third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

 

 

 

(PORTLAND, ORE.)  —

Newsletter Signup

Get regular updates about OnlineEd products and industry news.