Hacker Connect January 16 in New York
An event for and by the real estate tech community

Home values in the first quarter fell 7.7 percent compared to the same quarter last year, according to an index based on Zillow.com's automated home valuations. It was the steepest year-over-year drop in the past 12 years, according to Zillow's Zindex report, released today. The Zindex, which was expanded in the first quarter to cover 160 U.S. metropolitan areas, found that the median U.S. Zindex value for those markets was $213,000 -- the lowest since second-quarter 2005. The Zindex value declined 33.5 percent year-over-year in the first quarter in Stockton, Calif. The Zindex is based on automated price valuations, dubbed Zestimates, for all homes in a given market area. The Zindex counts all homes for which Zillow has records, including for-sale and not-for-sale homes. One-third ...