Zillow: Home Value Rise to Slow

As nationalmortgagenews tells MHProNews, according to the Zillow Home Valaue Index, the home value appreciation rate slowed in the first quarter, dropping to 0.5 percent, as compared to 2.1 percent in the last quarter of 2012, even though overall national home prices rose in March for the 16th consecutive month. Stan Humphries, chief economist for Zillow, says, “The sometimes dramatic home value run-ups experienced over the past year were never expected to be sustainable, and recent slowdowns are indicative of a market that is slowly finding its natural level. Looking forward, we expect annual home value appreciation to continue to slow as more inventory comes up for sale.” He adds, “Pockets of very rapid appreciation will remain, a troubling sign of volatility and a potential future headache as affordability is compromised and homes begin to look much more expensive to average buyers.”

(Image credit: HousingWire)

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