DataIndustry News

Zillow report shows home values still going up after 48 consecutive months

With rising home prices across the country, affordability remains an issue
  • Zillow reports that median home value in the U.S. rose to $187,300 in July 2016.
  • Portland saw the highest year-over-year increase in median home value, at 14.7 percent.
  • San Jose has the highest median home value in the country, at $948,600. Indianapolis was the only metro area that showed decline year-over-year, at 3.5 percent.

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Zillow's recent Home Value Index (ZHVI) revealed home values increased 5.1 percent over the past year. The current median home value in the United States is $187,300 as of July. The increase in home values has been steady since August 2012, Zillow reports. Affordability continues to be a struggle in some states, though. California, for example, has a median home value right around $516,000. At this level, the California Association of Realtors determined residents need to make over $100,000 per year to afford homes. The peak in national median home value was seen in April 2007, Zillow says, when it was $196,600. Big gains in Midwest and Pacific Northwest Four metro areas experienced double-digit median home value gains in July, according to Zillow. The highest increase was seen in Portland, where median home value increased 14.7 percent year-over-year to $334,900. Denver, Dallas and Seattle all experienced just over 11 percent value increases. "The consistent rise in home v...