Digital Access

Digital Access
Access nwherald.com from all your digital devices and receive breaking news and updates from around the area.

Home Delivery

Home Delivery
Local news, prep sports, Chicago sports, local and regional entertainment, business, home and lifestyle, food, classified and more! News you use every day! Daily, weekend and Sunday packages.

Text Alerts

Text Alerts
Stay connected to us wherever you are! Get breaking news updates along with other area information sent to you as a text message to your wireless device.

Email Newsletters

Email Newsletters
We'll deliver news & updates to your inbox. Plan your weekend and catch up on the news with our newsletters.
Real Estate

US home values post big gains, but recovery is uneven

comp:000050839e48:00000010fc:7df6 0 <div class="the-content clearfix"><p><a href="http://www.zillow.com/local-info/">Home values</a> in the United States rose 1.3 percent in the third quarter — the biggest quarterly gain since 2006, according to the third quarter Zillow Real Estate Market Reports. The Zillow Home Value Forecast shows more growth, albeit slower growth, on the horizon with values increasing 1.7 percent over the next year.</p> <p><a href="http://www.zillow.com/blog/files/2012/10/Forecast-graphic_q3.png"><img class="alignnone wp-image-101864" src="http://www.zillow.com/blog/files/2012/10/Forecast-graphic_q3.png" alt="" width="574" height="395" /></a></p> <p>However, the pace of the housing recovery is uneven from market to market. Home values are increasing rapidly in some areas. In the Phoenix metro, for example, values are up 20.4 percent year-over-year. But in other areas — such as the Atlanta metro, where home values declined 4.8 percent year-over-year — values continue to fall. But that doesn&#8217;t mean the recovery is in jeopardy.</p> <p>“We’re likely seeing home values fall back into the negative range in some markets due to the close of the traditional home-buying season,” said Zillow Chief Economist <a href="https://twitter.com/StanHumphries">Dr. Stan Humphries</a>. “While that doesn’t mean the recovery has come off the rails — in fact, most markets have hit bottom — it does present a confusing environment for consumers. Looking forward, we expect to see home values bump along the bottom for some time, before increasing at a slow and steady pace.”</p> </div>
Loading more