Deb Tebbs Group

Cascade Sotheby's International Realty

Home Values Nearing Pre-Recession Levels

Nearly 1,000 American cities are seeing home values nearing pre-recession levels. Zillow Real Estate Market Reports stated that values rose 5.7 percent in the first quarter of 2014 year over year and are up 0.5 percent compared to the fourth quarter of 2013. Home values have seen an increase over the last nine quarters and the trend is expected to continue through 2015. Out of over 300 metro areas that Zillow tracks, 60 have already exceeded or will exceed pre-recession values in the next year. It is anticipated that housing will remain affordable in a lot of metros, but in a few cities, prices are already unaffordable – namely San Francisco, Los Angeles & San Diego. Luckily, mortgage rates are still low & that assists in keeping home purchases possible in a number of areas.

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