Us property prices edged down again in october, data shows

Residential property values in the United States continued their decline in October 2011, falling 0.3% from September, according to latest real estate market report from Zillow published today (Tuesday 13 December).

However, the rate of monthly depreciation has stabilized as the housing market heads towards the bottom, the firm said.

On a year on year basis, the Zillow Home Value Index declined 5.1% to $147,900. Home values have fallen 23.7% since their peak in May 2007.

Regionally, 95 of the 156 of the metropolitan statistical areas covered by Zillow experienced monthly home value depreciation and 39 metros showed monthly home value increases. Some 22 metros remained flat.

Source: Property Wire