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Tag Archives: Home Values

Zillow: Homes Gain $1.3T in Value in 2012

After five years of cumulative losses, home values will finally post their first annual gain, according to data from Zillow. The calculations show homes are expected to gain $1.3 trillion in cumulative value for 2012, the largest gain since 2005 and the first annual increase since 2006, Zillow reported. The company expects the year-end total to reach $23.7 trillion, which is a 6 percent increase from last year's total. In 2011, the cumulative loss in home values was $792 billion compared to 2010.

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Five Star Economist Forecasts ‘Painfully Slow Improvement’

No matter how foggy the haze is, economists typically dust off their crystal balls in December. However economic forecasts too often involve driving by looking in a rear-view mirror. Because housing is a unique expenditure--combining elements of investment and a service--it depends on a variety of elements. The biggest question mark over the housing picture, though, is the fiscal cliff and the on-again, off-again negotiations to avoid a national financial calamity.

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Zillow: Home Values Inch Up in November

On a monthly basis, home values inched up by 0.6 percent to $156,200 in November, according to Zillow's Home Value Index. Compared to November 2011, home values have increased by 5.2 percent, which is the biggest yearly gain since August 2006. Twenty-six of the 30 largest metros tracked by Zillow registered yearly gains. Not surprisingly, Phoenix led with a 23.2 percent increase. The metro was followed by San Jose (+13.4 percent), San Francisco (+12.1 percent), Las Vegas (+11 percent), and Denver (+10.8 percent).

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November Existing-Home Sales Jump to 3-Year High

Existing-home sales rose 5.9 percent in November to a seasonally adjusted annual rate of 5.04 million, the highest level since November 2009, the National Association of Realtors reported Thursday. Economists had expected the sales pace to improve to 4.9 million. The increase in sales in November was the fourth in the last six months, following a similar pattern from 2011. According to the NAR's data, November existing-home sales--closed transactions--were up 14.5 percent from one year earlier.

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Study Suggests Less Value in Manhattan Apartment Purchases

With fluctuations in rental and owner markets over the past few years, it can be difficult to determine whether one is better off renting or owning. In Manhattan, renting is currently the more financially viable option, according to a new study by the Federal Reserve Bank of New York.

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Prices Continue to Climb in October, Denver Shows Biggest Improvement

The latest Residential Price Index (RPI) report from FNC, Inc., shows property values continued to improve in October on the national level. Home prices were up 0.4 percent in October, marking the eighth consecutive month of price increases. Year-to-date, prices have appreciated at a rate of 5.1 percent. According to FNC, October's price gains falls "in line with indications of continued expansion in economic activity and better employment rates in recent months."

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