Key Stats From Zillow’s 3Q Home Price Report
Below is a summary of Zillow’s most recent home price report released yesterday. Also below is a summary of the most recent Case Shiller home price report.
-Home prices almost down 0.2% from 2Q2011 to 3Q2011
-Zillow Home Value Index down 4.4% YOY to $171,500
-Home prices have fallen 28.8% since peaking June 2006
-28.6% of single-family homeowners underwater in 3Q
-In 2Q 26.8% were underwater
-105 of 157 metro areas declined 2Q to 3Q
-66 of 157 metro areas declined 1Q to 2Q
-Zillow Economist Stan Humphries predicts housing bottom 2012 at earliest
–Full Zillow 3Q Report
Also, on October 25, the S&P Case Shiller Home Price report for August came out and is more widely followed than Zillow and other reports. It showed that single family home prices across 20 major U.S. metro areas were up 0.2% since July, the fifth straight monthly ’20-City’ gain but it’s barely a gain. Prices are down 3.8% since August 2010, a slightly lower year-over-year loss from last month. Home prices are still down drastically from 2006 highs and now at 2003 levels.