Welcome to the ViewAndSearch.com Blog

2012-07-24 06:21:24
Home prices reach a bottom: Zillow

CHICAGO (MarketWatch)—National home values have hit bottom and are on the rise, the real-estate website Zillow reported in a news release on Tuesday.

“After four months with rising home values and increasingly positive forecast data, it seems clear that the country has hit a bottom in home values,” Zillow Chief Economist Stan Humphries said in a news release. “The housing recovery is holding together despite lower-than-expected job growth, indicating that it has some organic strength of its own.”

Values of U.S. homes rose 0.2% in the second quarter, compared with the same time period a year ago, marking the first annual increase in values since 2007, Zillow reported.

Phoenix had the largest home-value gain; values were up 12.1% there during the second quarter, compared with the same period last year. All told, values rose in 53 of the 167 markets covered in Zillow’s Real Estate Market Reports, which is aggregated from public sources.

Moreover, Zillow predicted a 1.1% increase in home values over the next year. Values are expected to rise in 67 of the 156 markets in Zillow’s Home Value Forecast, which uses data and market conditions to predict home values.

“Of course, there is still some risk as we look down the foreclosure pipeline and see foreclosure starts picking up. This will translate into more homes on the market by the end of the year, but we think demand will rise to absorb that, particularly in markets where there are acute inventory shortages now,” Humphries said. “Looking forward, we expect home values to remain relatively flat as the market works through a backlog of foreclosures and high rates of negative equity.”

Zillow reported that 5.8 out of every 10,000 homes were lost to foreclosure in June, down from 7.9 of every 10,000 homes lost in January. But the number of foreclosures is expected to increase, based on a pickup in foreclosure starts since the completion of the National Foreclosure Settlement, the company said in the release.

Other measures have also indicated that prices are on the way up.

The S&P/Case-Shiller 20-city composite index rose 1.3% in the month of April, and 19 out of 20 cities saw home-price gains during the month. The Case-Shiller results for May are scheduled for release on July 31.

Read more: U.S. home prices jump 1.3% in April: Case-Shiller.

The National Association of Realtors reported that median home prices rose for the third month in a row in June, rising 7.9%, compared with a year ago. Read more: Sales of existing homes drop 5.4% in June.

Provided by,

Doug Spiers / Principal Broker 

Elite Choice Real Estate
1436 South Legend Hills Drive Suite 311
Clearfield, Utah 84015

Direct (801) 726-7173

Email: DougSpiers@aol.com 


“The highest compliment I can receive is the referral of your friends, family and business associates. Thank you for your trust and confidence.”

Blog Archive
2017-10-13 11:57:01
4 Reasons to Sell This Fall

2016-05-06 07:23:41
Best Long-Term Investment

2016-02-02 16:49:28
No Matter Which Groundhog You Listen To...

2016-01-29 14:35:49
Existing Home Sales Bounce Back

2015-12-09 08:46:15
Real Estate News You Need to Know Wed. 12/9/15

2015-12-03 08:11:23
2016 Home Prices and Rates?

2015-10-16 10:43:16
2016 Home Prices?

2015-10-15 12:27:38
Rental Repairs?

2015-10-15 12:24:39

2015-10-13 07:15:49
New Home Sales Surge

2015-10-07 10:35:23
30-Year Fixed Mortgage Rates Fall to 5-Month Low;

2015-07-29 07:20:05
What you need to know today.

2015-07-22 13:45:39
Rates Today July 22,2015

2015-01-08 07:32:51
Mortgage Rates Hit 19-Month Low

2014-12-24 10:04:16
30-Year Fixed Mortgage Rate Up From 19-Month Low;

2014-09-02 18:21:41
30-Year Fixed Mortgage Rates Drop

2014-08-31 08:55:58
Housing Market Looking Up

2014-08-22 21:25:38
US housing recovery appears to be back on track

2014-07-08 08:16:44
4 in 10 US households use cellphones only

2014-06-30 12:51:26
Pending Home Sales Surge 6.1%

2014-04-29 18:07:58
Pending Home Sales 4/28/14

2013-11-14 12:56:43
30-year-mortgage rate rises to 4.35%

2013-11-13 07:58:25
Fewer Late On Mortgage Payments = Housing Strength

2013-05-02 15:12:13
Home prices along Utah's Wasatch Front

2013-04-12 15:14:02
Salt Lake housing market looks for spring rebound

Click here to see ALL articles.

Comment on this Article

Your Name:
Your Email:
Verify:  Please enter the numbers shown to help eliminate spam.