Us property values still fall but rental market is flourishing

Residential property prices in the United States continued to fall but median rents are rising, according to the latest real estate market reports published today (Tuesday 13 March) by Zillow.

The Zillow Rent Index, which was released for the first time, shows that median rents increased 3% from January 2011 to January 2012. There were gains for 69.2% of metropolitan areas covered by the ZRI.

By contrast, only 7.3% of metro areas covered by the Zillow Home Value Index saw home values rise. Overall home values continued to fall, declining 4.6% year on year.

Source: PropertyWire.com