Morning Minute: Have housing values hit bottom?

Zillow says yes in its latest report on U.S. home values released today. During the second quarter, values rose 0.2 percent, the first annual increase in nearly five years and a signal that values have reached a bottom, according to the Zillow report. At the same time, median home values have risen for four consecutive months. Said Zillow’s Chief Economist Dr. Stan Humphries:

“After four months with rising home values and increasingly positive forecast data, it seems clear that the country has hit a bottom in home values. The housing recovery is holding together despite lower-than-expected job growth, indicating that it has some organic strength of its own.”

What do you think? Have home values hit bottom?

Leave a Reply

Your email address will not be published. Required fields are marked *