Real estate bottom reached in some California markets?

Zillow predicts slow housing recovery

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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.