BrokerageIndustry News

Top 10 rising real estate markets in May

Zillow Home Value Index down a slight 0.9% on an annual basis

Editorial note: This list is based on home value estimates, called Zestimates, from property search and valuation portal Zillow. The Zillow Home Value Index for a metro is the median Zestimate value in that area. U.S. home values continued to rise this spring, according to an analysis by online real estate marketplace Zillow. As of May, national home values are up (0.5 percent) for the third month in a row, settling at $148,100. Despite the spring season up-crawl – 0.5 percent in March, 0.8 percent in April – home values remain down (0.9 percent) on a yearly basis from last May when they stood at $149,445. However, some hard-hit metros are seeing a sustained recovery in home values, including Phoenix and three Florida markets: Fort Myers (No. 2), Miami (No. 3) and Punta Gorda (No. 7). Fort Myers and Miami-Fort Lauderdale, Fla., saw 6.7 percent and 5.2 percent year-over-year home value increases, respectively, in May. Familiar recovery front-runner Phoenix is living up to ...