Home value a gray area for owners

Consumers out of touch with real estate reality

Real estate site Zillow.com reported a disconnect in real estate reality vs. consumer perceptions — both in overestimating and underestimating actual changes in home values — based on its latest quarterly Homeowner Confidence Survey, released today.

Nationally, about 49 percent of survey participants reported that their home’s value decreased in the past 12 months, while Zillow found that 72 percent of homes decreased in value, based on the company’s estimates.