Press Releases

U.S. Home Values Decline Nationwide – Notable Exceptions in Pacific Northwest, According to™ Q1 Home Value Report

New this quarter: Zillow analyzes average American home; the same house will cost you eight times as much in Santa Barbara, Calif., as in Tulsa, Okla.

May 2, 2007

Seattle – May 2, 2007 — U.S. homeowners are experiencing a slight decline in home values on a year-over-year basis for the second consecutive quarter, according to, which today released its quarterly home value reports nationally and in 46 metropolitan areas. Home values are down one percent (-1.01%) quarter-over-quarter and have dropped by just under a percentage point (-0.83%) from first quarter 2006, as measured by the Zindex™ home value indicator, which measures the value of all homes in an area (not just those that sold). “While numerous cities around the nation are showing actual year-over-year declines in home values, the Pacific Northwest is largely bucking that trend and in fact is showing double-digit appreciation in some areas,