U.S. homes gained $1.9 trillion in total value this year, the biggest jump since 2005, as the real estate market rebounded from the recession, Zillow Inc. said.
Talk to Mark Hanson about the housing market for five minutes and you may find yourself wanting to sell your home and park the cash in a suitcase.
U.S. home prices will fall 5 percent to 7 percent more before a reaching a bottom in late 2011, said Stan Humphries , chief economist of Zillow Inc. , a provider of housing data.
Just a year since the U.S. housing market hit bottom after the biggest plunge in eight decades, signs of excess are re-emerging.
A U.S. government shutdown will immediately slow approval of thousands of mortgages. If it lasts more than a week, it threatens housing and the broader economic recovery.
More than 28 percent of U.S. homeowners with mortgages owed more than their properties were worth in the first quarter as values fell the most since 2008, Zillow Inc. said today.
The number of U.S. homeowners who owe more on their mortgages than their houses are worth fell by about 400,000 in the second quarter as prices rose and properties were lost to foreclosure.
Stan Humphries, chief economist at Zillow, says the housing recovery is becoming more widespread as home values rose for a 16th straight month in February. Humphries talks with Bloomberg's Vonnie Quinn on Bloomberg Radio's "Taking Stock."
Rob Gray moved his family of four from Massachusetts to Texas, where he bought a new five-bedroom, five-bath, two-fireplace home built by Toll Brothers Inc.
U.S. home values jumped 1.3 percent in the third quarter, the biggest gain since 2006, in an uneven recovery across the country, Zillow Inc. said.
"There's a strong distinction between a normal slowdown and the wheels coming off the housing recovery."
- Stan Humphries on Oct 07, 2013