SEATTLE—Appreciation in home values is slowingdefinitively after nearly two years ofaccelerating year-over-year growth, according to the third quarterZillow Real Estate Market Reports.
Homebuyers who have been priced out of hot markets will welcomethe cooling off, and the most recent data should further combatworry about another housing bubble, Zillowsays.
The rate of annual home-value appreciation peaked at 8.1% in Apriland has fallen in every month since. U.S. home values were up 6.5%year-over-year at the end of the third quarter, to a ZillowHome Value Index of $176,500.
The rate of appreciation is expected to continue to slow. Homevalues are forecasted to grow at 3%, roughly half their currentpace, through the end of the third quarter of 2015, according tothe Zillow Home Value Forecast.
Some key findings:
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
