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by CareyBot

Home values fell 8 percent year-over-year in April, according to a report from property search and valuation site Zillow. Zillow's Home Value Index is now down 29.5 percent, to a median $169,588, from its peak of $240,656 in June 2006. That's equivalent to the index's level in May 2003, the report said. Of 132 metro areas tracked, only three saw year-over-year appreciation: Honolulu (1 percent); Pittsburgh (0.9 percent); and Fort Myers, Fla. (0.5 percent). Nearly half saw double-digit decreases.Homes in Ocala, Fla., lost the most value (-19.9 percent), followed by Manchester, N.H.; and Gainesville, Ga. (-16.5 percent each). Month-to-month depreciation slowed slightly in April compared to late 2010. From March to April, the index fell 0.8 percent, compared with a 0.9 percent dip between ...