Market Reports
Home values slipped 0.2% in December, a repeat of November’s modest decline, leaving the typical home value at $356,819, or 0.7% below the peak set in June, according to the Zillow Home Value Index.
Rents slide for third month in a row to close out 2022 (December 2022 Rental Report)
Asking rents fell 0.3% from November to December, another large decline following the largest one-month drop in the seven-year history of the Zillow Observed Rent Index.
Home Price Declines Resumed in November As Buyers Await Better Deals (November 2022 Market Report)
Home values slipped 0.2% in November, resuming a slow decline that began this summer.
Rents Slide by Largest Amount in at Least 7 Years (November 2022 Rental Report)
Asking rents declined 0.4% from October to November, the largest one-month decline in the seven-year history of the Zillow Observed Rent Index. November is usually the slowest month for rent increases, but outright declines had not exceeded 0.1% in this time of the year before the pandemic.
The typical U.S. home value fell slightly from October to November (-0.2%), as high interest rates further discouraged home buyers.
