Home Value Declines Slow in February – Ventura Real Estate Market News

by Gary and Lisa Schoeffler on April 6, 2011

in How's the Real Estate Market?

Amidst reports of continued home value depreciation, February brings a small glimmer of hope for the housing market. According to the Zillow February Real Estate Market Report, home values are still falling, but not as rapidly as they were last month. The U.S. Zillow Home Value Index (ZHVI), which is the median values of all homes, fell by 1.1% from January to February 2011, compared to a 1.3% decline from December to January, marking the first time in nine consecutive months the rate of monthly home value depreciation has slowed. The national ZHVI in February was $170,097, down 29.1% from its peak in June 2006. That brings home values back to their June 2003 level (See Figure 1).

Another positive note in our real estate market. Zillow is predicting the bottom in national home values is near. They define the bottom as an end to consistent monthly declines in home values. Our local Ventura Market seems to be leveling out somewhat.

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Post by Gary and Lisa Schoeffler

Gary and Lisa Schoeffler are Ventura Real Estate Professionals specializing in residential real estate. Their expertise in helping both buyers and sellers is widely recognized in Ventura County. How can they assist you today? Wondering what the market is like? Call them, they will be happy to talk with you about it. 805-320-4472

Gary and Lisa has written 372 articles.

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