Morning Minute: Have housing values hit bottom?

Zillow says yes in its latest report on U.S. home values released today. During the second quarter, values rose 0.2 percent, the first annual increase in nearly five years and a signal that values have reached a bottom, according to the Zillow report. At the same time, median home values have risen for four consecutive months. Said Zillow’s Chief Economist Dr. Stan Humphries:

“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. The housing recovery is holding together despite lower-than-expected job growth, indicating that it has some organic strength of its own.”

What do you think? Have home values hit bottom?

This entry was posted in Consumer Information, Housing Market, Uncategorized by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.