Zillow on Bloomberg TV talking House Values
I was on Bloomberg television last week discussing house values. Here’s the video. Just a reminder, you can find oodles of data on home prices in our Real Estate Market Reports.
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How many homes have been sold this year, and how many of these were homes that were foreclosed on or were short sales?
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Hi Mark,
Katie from Zillow here. I checked out our Q2 Real Estate Market Reports (which can be found here: http://www.zillow.com/reports/RealEstateMarketReports.htm) to get some answers for you.
Foreclosure made up 14.5 percent of all home sales in the past 12 months, according to the reports.
Short sales are a little harder to calculate, since how much a person currently owes on their home isn’t public record. But we do calculate percentage of homes sold for a loss. Across the US, 23.7 percent of homes sold in the last 12 months were sold for a loss.
As far as the absolute number of homes sold this year, I can’t help you there. NAR is calculating that 5 million will be sold in 2008, though. Inman wrote about that here:
http://www.inman.com/news/2008/08/25/nar-resale-home-prices-sales-fallHope that helps.
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