Today Zillow released our 2nd Quarter Home Values data. Nationally, the news isn't too bright with home values decreasing by almost 10% in the second quarter compared to a year ago. Also, nearly a third of homeowners who bought since 2003 are underwater on their mortgages, meaning they owe more than their home is worth.
I know, I know- real estate is local Sara. Hyperlocal. There are even areas in the country which have experienced positive increases in value, as illustrated by the red squares below. So rather than list in detail the 165 metro the report covers, I encourage you to visit the Home Values Link where you can drill right down to the zip code and neighborhood to get local information that is actually meaningful to individual buyers and sellers. When you visit the report main page, click on the icon next to you metro and an excel spreadsheet will launch where you can explore the in-depth local data. (I am sure there is some good fodder for Localism posts in there)