BrokerageIndustry News

Top 10 markets for rising ‘Zestimates’

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Editor's note: The data below is from the Zillow Real Estate Market Report for the first quarter of 2012.U.S. home values were up 0.5 percent from February to March but, at $146,200, the national median home value was still down 0.5 percent quarter to quarter and 3.1 percent from a year ago, according to estimates generated by real estate information portal Zillow.Zillow estimates that national home values are back at 2003 levels, or 24.6 percent below the May 2007 peak of $193,800. Unlike most home-price indexes, which track sales prices, the Zillow Home Value Index relies on automated valuation estimates ("Zestimates") generated by Zillow for single-family residences, condominiums and cooperatives, regardless of whether they sold within a given period. At the national level, the Zillow Home Value Index reflects the median Zestimate of all homes in the U.S. expressed in dollars. Of the 165 metros Zillow tracks, 90 showed declines in estimated home values from the f...