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Zillow Reports 3.1% Decline In Annual Home Price

By Michael Hobbs

Real Estate Appraiser with PahRoo Appraisal & Consultancy

April 26, 2012 12:22 PM

Zillow's first quarter Real Estate Market Reports show home values decreased 0.5% from the fourth quarter of 2011 to the first quarter of 2012 to $146,200.

Annually, values dropped 3.1% from March 2011.

Despite showing quarterly and annual depreciation, the quarter ended positively with home values rising in March

So, maybe, just maybe, this market may shake off its sluggishness and turnout a good year for the first time in nearly half a decade.

Michael Hobbs, PahRoo Appraisal & Consultancy

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Peter Preston-Thomas

Real Ottawa - Kanata, ON

Real estate is so variable these days that, while national figures may be interesting for general trends (I assume that was a national report and not Chicago specific,) I'd always want the specifics of the local market. Of course. my local market is in Ottawa, Canada. While the Canadian market has been much better off than that of the USA, we also see wide variations based on local. Still, as I say, the national trend is certainly of interest.

Apr 26, 2012 12:44 PM

Zillow Reports 3.1% Decline In Annual Home Price

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Michael Hobbs

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