Real Estate Market Reports

Zillow recently released its Q1 Real Estate Market Reports for the nation and 132 metro areas. The reports show that home values in the United States posted their largest quarter-over-quarter decline since Q4 2008, falling 3 percent. Negative equity reached a new high of 28.4, due to accelerating home value declines. This new data reveals bottom in home values unlikely to appear in 2011. Zillow has revised its forecast and now predicts a bottom in 2012 at the earliest.

The full national report, in its interactive format, is available at www.zillow.com/local-info  or by emailing press@zillow.com. Additionally, in most areas data is available at the state, metro, county, city, ZIP and neighborhood level.

Topline National Results:

• U.S. home values posted their largest quarter-over-quarter decline since Q4 2008, falling 3 percent. Home values have fallen 29.5 percent from their peak in June 2006.
• Negative equity reached a new high with 28.4 percent of all single-family homes with mortgages underwater, up from 27 percent in Q4 2010, due to accelerating home value declines.
• New data reveals bottom in home values unlikely to appear in 2011. Zillow has revised its forecast and now predicts a bottom in 2012 at the earliest.
   

Additional resources available for media:

• First Quarter Real Estate Market Reports press release
• FAQ’s on key metrics included in Zillow Real Estate Market Reports
• Explanation of Data Source: Analysis of Zillow's home value data compared to FHFA and Case-Shiller Indexes and NAR/Median Sale Price reports

For additional questions or to request an interview, contact Zillow PR at press@zillow.com or 206-757-2701. Custom data and graphics are also available upon request.