After five long years of a housing recession, U.S. home values have reached a bottom, according to Zillow’s second quarter Real Estate Market Reports, which were released today.

U.S. home values logged their first annual increase since 2007, rising 0.2 percent over the past year. Nearly one-third of metros covered by the Zillow reports showed annual increases in home values.

There appears to be good news on the horizon as well. The Zillow Home Value Forecast shows values will increase in two-fifths of markets over the coming year, with the biggest increases in the Phoenix and Miami markets, where home values are predicted to rise 9.9 percent and 6.1 percent, respectively.

“After four months with rising home values and increasingly positive forecast data, it seems clear that the country has hit a bottom in home values,” said Zillow Chief Economist Dr. Stan Humphries. “The housing recovery is holding together despite lower-than-expected job growth, indicating that it has some organic strength of its own.”

For more information, you can see the full press release here. More information is also available at Zillow Research.

You also might like...

11-18-14 954AM

30-Year Fixed Mortgage Rate Falls Further, Below 4% for Seventh Straight Week

11-11-14 945AM

30-Year Fixed Mortgage Rate Firmly Below 4 Percent for the Sixth Week in a Row

11-04-14 951AM

30-Year Fixed Mortgage Rates Spike on News of Stimulus Program Ending, Flatten Out by Week’s End

Source:  Vox Efx  via  Flickr Creative Commons

A House Divided: Homes in Blue States Appreciated More Than Homes in Red States

Subscribe for Zillow Blog updates

We will not rent, share or spam your account, ever. Please read and review our privacy policy.

You can also stay updated by following us below

instagram googleplus pinterest