RISMedia » Home Value Depreciation Stays Constant in July 2010

Home Value Depreciation Stays Constant in July 2010

Posted By susanne On September 12, 2010 @ 1:07 PM In Home Owner News,Home Value News,Real Estate,Real Estate Information,Real Estate News,Real Estate Trends,REO Properties,Today's Marketplace | Comments Disabled

RISMEDIA, September 13, 2010—Home value depreciation stayed constant in July 2010 with home values registering a 0.2% decline between June and July and a 3.2% decline over the past year, according to Zillow’s July Real Estate Market Reports ^[1]. The rate of home value depreciation was -0.4% in December of 2009 and had improved in each of the subsequent six months before going sideways in July. Considering home sales fell 27% between June and July, sideways really doesn’t seem that bad. (See chart of Zillow Home Value Index month-over-month vs. year-over-year change here ^[2]).

Foreclosure re-sales as a percentage of all sales in July notched up slightly to 18% (up one percentage point from June). Foreclosures in the month as a percentage of all homes remained at its record high rate of 0.11%.

Out of 125 metropolitan markets, 85 saw negative year-over-year change in home values in July (68%), 13 saw flat annual change (13%), and 24 saw positive annual change (19%). The markets seeing the strongest annualized change in home values were San Diego ^[3], Oklahoma City ^[4], San Jose ^[5], San Francisco ^[6], Little Rock ^[7] and Los Angeles ^[8]. The markets seeing the largest declines in home values on a year-over-year basis included Bend ^[9], Miami-Fort Lauderdale ^[10], Ocala ^[11], Lakeland ^[12], Grand Junction ^[13], Detroit ^[14]and Orlando ^[15].

Visit the Zillow Blog ^[16] to find interactive data for most of the large markets. As usual, all data can be downloaded from our Real Estate Market Report ^[1] page.

For more information, visit www.zillow.com ^[17].

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URL to article: http://rismedia.com/2010-09-12/home-value-depreciation-stays-constant-in-july-2010/

URLs in this post:

[1] Real Estate Market Reports: http://www.zillow.com/local-info/

[2] here: http://www.zillow.com/blog/files/2010/09/image002.png

[3] San Diego: http://www.zillow.com/local-info/CA-San-Diego-Metro-home-value/r_395056/

[4] Oklahoma City: http://www.zillow.com/local-info/OK-Oklahoma-City-Metro-home-value/r_394935/

[5] San Jose: http://www.zillow.com/local-info/CA-San-Jose-Metro-home-value/r_395059/

[6] San Francisco: http://www.zillow.com/local-info/CA-San-Francisco-Metro-home-value/r_395057/

[7] Little Rock: http://www.zillow.com/local-info/AR-Little-Rock-Metro-home-value/r_394798/

[8] Los Angeles: http://www.zillow.com/local-info/CA-Los-Angeles-Metro-home-value/r_394806/

[9] Bend: http://www.zillow.com/local-info/OR-Bend-Metro-home-value/r_394380/

[10] Miami-Fort Lauderdale: http://www.zillow.com/local-info/FL-Miami--Fort-Lauderdale-Metro-home-value/r_394856/

[11] Ocala: http://www.zillow.com/local-info/FL-Ocala-Metro-home-value/r_394927/

[12] Lakeland: http://www.zillow.com/local-info/FL-Lakeland-Metro-home-value/r_394766/

[13] Grand Junction: http://www.zillow.com/local-info/CO-Grand-Junction-Metro-home-value/r_394639/

[14] Detroit : http://www.zillow.com/local-info/MI-Detroit-Metro-home-value/r_394532/

[15] Orlando: http://www.zillow.com/local-info/FL-Orlando-Metro-home-value/r_394943/

[16] Zillow Blog: http://www.zillow.com/blog/improvement-in-home-value-depreciation-stalls-in-july/2010/09/08/

[17] www.zillow.com: http://www.Zillow.com

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