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Urban and rural property
After Dismal Year, Homebuilders See Hope in 2012
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Home Values Build for 3rd Consecutive Month
Zillow's May Real Estate Market Reports, released today, show national home values rose for the third month in a row, climbing 0.5 percent from April to May to a Zillow Home Value Index of $148,100.

The good news continues at the local level as well: Of the 166 metropolitan areas covered by Zillow, 86 show monthly home-value appreciation. Among the top 30 metros, 23 experienced monthly home-value appreciation. Leading the pack are once again Miami-Fort Lauderdale and Phoenix, which experienced 2.2 percent and 1.9 percent increases from April to May. On an annual basis, the Phoenix metro is approaching double digit increases, reporting a 9 percent rise in home values since May 2011.

It remains important to temper this good news with a reminder that the overhang of negative equity and tightening inventory could alter the long, flat bottom we originally anticipated. Home values continue to decline on an annual basis, falling 0.9 percent from May 2011 to May 2012, though this is the smallest year-over-year decline since October 2007.

Zillow's chief economist, Stan Humphries, explains it further: "It is promising to see consecutive months of national home value increases, especially during a period in which we'd expected more downward pressure due to foreclosures. Attention has now shifted to the tug-of-war situation with inventory, where buyers want to buy but sellers don't want to -- or can't -- sell. This inventory phenomenon, due to both the broader issue of negative equity that is keeping people in their homes and to rational seller behavior at a market bottom, will make for a more volatile housing recovery than what we initially expected."
  
Shopping for a Home in Winter
Secrets to a Successful Move
Saving the Best for Last
Renting to Own
New House or an Old One?
Make Them An Offer They Can't Refuse
Lifestyle Choices Affect Bottom Line
Inspecting Your Home Inspector
In Love With Two Houses?
How to Track Down Foreclosure Properties
Home-buying With Others
Five Keys to Successful Negotiation
Five Key Areas to Pay Attention to When Buying a Home
Finding a Good Home Inspector
Find the Perfect Neighborhood
Don't Overlook a Home's Potential
Do You Have Buyer's Paralysis?
Debt Reduction Not Required to Buy
Debating Between a Condo or a House
Contingencies Your Home Offer Should Include
Can You Afford to Buy a House?
Buying a Home With Loans from Family and Friends
Buyers, Get an Edge During The Busy Spring Season
Affordability Options for First-time Home Buyers
14 Things to Consider Before Buying a Home
12 Red Flags That Should Raise Concern
10 Summer Moving Tips
Experts Predict Annual Home Value Appreciation to Exceed 6 Percent in 2013
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Housing Starts Rise in July but Fall Short of Forecasts
Giants Masking Billions in Losses for Overdue Mortgages
Home Sales in July Rise to Levels Last Seen in 2009
Rise in Rates Reduces Demand for New Mortgages
Mortgage Rates Rise to Their Highest Levels in 2 Years
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Home Prices Rise in June at Slightly Slower Pace
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Foreclosures Fall 25% in July from a Year Ago
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Title Insurance: Who Needs It?
Title Insurance
The Hidden Costs of Homeownership
The Art of House Hunting
The Appraisal Contingency
Sometimes Smaller Is Better
Signs That You're Ready to Buy
Should You Pay Discount Points?
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