Quarterly Home Value Reports

First Quarter: January-March 2008

Median U.S. home values experienced the most significant year-over-year decline in 12 years, pushing values back to 2005 levels. Meanwhile, one out of every two homeowners who purchased during the market peak in 2006 is now underwater on their mortgage.

To see home value trends and negative equity data for the nation and 160 metropolitan statistical areas (MSAs), click on the Excel icon below to view the report or click the graph icon to see graphs and maps suitable for printing. Scroll and click the interactive map to explore each metropolitan area.

New this quarter! Check out our Q1 Supplemental Report for the top 30 MSAs to see when each area experienced its market peak, how far home values have fallen since the peak, and the last quarter home values were as low as they are today.

For additional information about Zillow's Q1 home value reports, including the press release and additional downloadable graphics, visit the special Quarterly Reports section in our online press room.