For the second-quarter period ending that same month, Zillow recorded its smallest quarterly decline in national home prices in over four years – a drop of just 0.4 percent.
Ninety-four of the 154 metropolitan statistical areas (MSAs) covered in Zillow’s study experienced home price appreciation with their value indices rising from the first to the second quarter.
The seasonal gains helped to improve the negative equity picture. Zillow says 26.8 percent of single-family homeowners with mortgages owed more on the loan than their home was worth in the second quarter. That’s down from the first quarter when 28.4 percent of mortgage borrowers were underwater.
Looking at the home price data from a broader, year-over-year barometer, the second-quarter results don’t stack up so well. Zillow says home values fell on an annual basis in 142 of the 154 MSAs in its survey. The company’s national index dropped 6.2 percent compared to the second quarter of last year.
Friday, August 12, 2011
Zillow Records Smallest Quarterly Home Price Decline in Four Years - Walnut Creek Real Estate News
via dsnews.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment