Zillow reports that U.S. housing market has ... - Archibald Relocation

U.S. housing market has hit bottom and is turning the corner while Portland home values continue to rise, according to a new report by Seattle-based online real estate company Zillow Inc.

The Puget Sound Business Journal reports that Zillow?s (NASDAQ: Z), its Home Value Index rose on an annual basis for the first time in five years, increasing 0.2 percent year-over-year to $149,300.

?After four months with rising home values and increasingly positive forecast data, it seems clear that the country has hit a bottom in home values,? Stan Humphries, Zillow chief economist, said in a statement.

Zillow estimates that home values in Portland bottomed in the first quarter of this year.

As of the second quarter, Portland?s Home Value Index gained 1.6 percent year-over-year to $212,800. Its quarter-to-quarter increase of 2.7 percent, beating the national average of 2.1 percent.

This entry was posted on Thursday, July 26th, 2012 at 11:55 pm and is filed under Real Estate & Relocation. You can follow any responses to this entry through the RSS 2.0 feed.

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