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Answers (3)
- gleep_54
- Contributions:3
Then WHY is building still going on? I guess I don't "get it". If it's already been "overbuilt", why is the planning commision allowing MORE building to continue, only depreciating what already exists?
- Alison Paoli, "AlisonPaoli"
- Contributions:23
Hi there, Alison from Zillow.com public relations here.
While I can't tell you specifically why home values are falling a bit harder in the Fresno metro than in other areas, I'd like to point you to our Real Estate Market Reports which will show you that other nearby metro are actually seeing greater year-over-year declines in home values than the Fresno metro.
Our latest data shows that the Fresno metro fell 6.8% year-over-year (Nov 2009-Nov 2010). Just to the south in the Hanford, Visalia and Bakersfield the year-over-year decline is 5.3%, 11.5% and 8.4%, respectively.
The picture is different north of Fresno in the metros of Madera, Merced and Modesto. Both Madera and Merced are seeing year-over-year increases in home values, 6.4% and 3.7%, respectively while Modesto is seeing modest year-over-year depreciation at 1.8%.
Here is a link to where you can find the data I referred to: http://www.zillow.com/local-info/CA-home-value/r_9/
While I can't tell you specifically why home values are falling a bit harder in the Fresno metro than in other areas, I'd like to point you to our Real Estate Market Reports which will show you that other nearby metro are actually seeing greater year-over-year declines in home values than the Fresno metro.
Our latest data shows that the Fresno metro fell 6.8% year-over-year (Nov 2009-Nov 2010). Just to the south in the Hanford, Visalia and Bakersfield the year-over-year decline is 5.3%, 11.5% and 8.4%, respectively.
The picture is different north of Fresno in the metros of Madera, Merced and Modesto. Both Madera and Merced are seeing year-over-year increases in home values, 6.4% and 3.7%, respectively while Modesto is seeing modest year-over-year depreciation at 1.8%.
Here is a link to where you can find the data I referred to: http://www.zillow.com/local-info/CA-home-value/r_9/
What's up with Fresno CA?
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