Home Values Finally Show Gain

After analyzing 177 metro areas, real estate analyst Zillow tells HousingWire 75 percent showed home value gains in 2012. For the five years from 2007 to 2011 home values dropped each year, the largest occurring in 2008 when home values declined $3.2 trillion. This year the value of homes is expected to increase over $1.3 trillion in cumulative value, the first annual increase in six years when homes gained $483 billion. While 2011 home values fell over $792 billion from 2010, home price are expected to increase 3.1 percent in 2013. Metro areas that experienced the largest gains in value include Los Angeles, San Francisco and San Jose, Calif., as well as Phoenix and Miami-Fort Lauderdale Fla. MHProNews has learned Philadelphia was the only large metro area that did not record an annual gain.

(Image credit: ehow)

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