Real estate bottom reached in some California markets?

Zillow predicts slow housing recovery

Despite some signs of market stabilization, home values continued to fall across the country in the first quarter, according to a report by property valuation and marketing site Zillow. This is the 13th straight quarter that has seen home values drop year-over-year.

Zillow’s Home Value Index, which tracks the site’s median home-value estimates nationwide, dipped 3.8 percent from the first quarter of 2009 and 1 percent from the fourth quarter, to $183,700, the report said. About 66 percent of homes saw their value decrease nationwide.