by Bill McBride on 11/21/2012 12:22:00 AM
Wednesday, November 21, 2012
Zillow’s October Real Estate Market Reports, released today, show that national home values rose 1.1% from September to October to $155,400. This is the largest monthly increase since August 2005 when home values rose 1.2% month-over-month. October 2012 marks the 12th consecutive month of home value appreciation, further evidence of a durable housing market recovery. On a year-over-year basis, home values were up by 4.7% in October 2012 – a rate of annual appreciation we haven’t seen since September of 2006 ...Click on graph for larger image.
In October, 276 (75%) of the 366 markets showed monthly home value appreciation, and 228 (62%) of the 366 markets saw annual home value appreciation. Among the top 30 metros, 29 experienced monthly home value appreciation and 26 saw annual increases.
The graph from Zillow shows both the year-over-year and month-over-month change for the Zillow HPI.
This is a very strong month-over-month increase, and the largest year-over-year increase since 2006.
Posted by Bill McBride on 11/21/2012 12:22:00 AM