10
Dec
Home Values Down For 2009
housing market
According to a just released report from the Zillow website, U.S. home values fell by $489 billion in the first 11 months of 2009. Although this is a huge value decline, it’s actually an improvement from 2008, when home values shed $3.6 trillion.
Zillow’s chief economist, Stan Humphries said: “Home values stabilized significantly during the second half of 2009, with the total dollar value of U.S. homes increasing since June. Most housing markets across the country had a good summer, spurred largely by the government’s tax credits for homebuyers, combined with very low mortgage rates.”
