Press Releases
First Quarter Home Value Declines Match Worst of Housing Recession; Bottom Unlikely to Appear Before 2012
Home Values Show Sharpest Quarterly Decline Since 2008; Negative Equity Rises to 28.4% According to Q1 2011 Zillow® Real Estate Market Reports
Key facts:
- U.S. home values posted their largest quarter-over-quarter decline since Q42008, falling 3 percent. Home values have fallen 29.5 percent from their peak in June 2006.
- Negative equity reached a new high with 28.4 percent of all single-family homes with mortgages underwater, up from 27 percent in Q4 2010, due to accelerating home value declines. Actually, in Florida, 48+% of all homes with a mortgage are underwater...and to top that off, about 1 in 5 are 90 or more days delinquent of their mortgages.
- New data reveals bottom in home values unlikely to appear in 2011. Zillow has revised its forecast and now predicts a bottom in 2012 at the earliest.
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We have established this blog and compiled this information in our efforts to keep all Lake Charleston residents completely up to date on the current real estate market in their neighborhood. Lake Charleston residents will no longer have to "guess" about what is going on with the housing market, rely on neighborhood gossip...the current market activity, foreclosures, as well as other pertinent information, will be right here for you...courtesy of us...Steve & Jackie Jackson, The Jackson Realty Group
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This blog and its contents are not affiliated with or endorsed by Lake Charleston community, foundation or association.
This blog and its contents are not affiliated with or endorsed by Lake Charleston community, foundation or association.
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DISCLAIMER: Some of the information on this blog may be derived from RMLS, Inc. This representation is based in whole or in part on data supplied through various participants of RMLS, Inc. RMLS, Inc. does not guarantee or is not in any way responsible for its accuracy. Data maintained by RMLS may not reflect all real estate activity in the market. Additionally, The Jackson Realty Group Inc. is not claiming that they are the listing OR selling agent on any of the above properties. All information is provided for information purposes only and all information contained herein is readily available through various sources accessible to the general public.
