Zillow producing local market reports

Homeownership and rental market reports available for 30 cities

Zillow will now release city-level market “snapshots” — one focused on homeownership and another on rentals — in 30 large metros the firm tracks, the company announced today.

The reports, based on the Zillow Home Value Index and the Zillow Rent Index, will be released in conjunction with Zillow’s monthly and quarterly Real Estate Market Reports, and will include data associated with small cities around the metro in the report.

The homeownership snapshot includes details on the percentage of homes in the market with negative equity; change in home values over the year, quarter and month; and those numbers compared to the national stats.

The rental reports include national and metro comparisons, too, as well as Zillow’s “breakeven horizon” analysis, which helps home shoppers determine whether it’s more economical to rent or buy in a location based on factors like home value and rent price appreciation.