Bay Area homeowners received some unwelcome news today when real estate site Zillow posted their data on fourth-quarter home values across the country during which values significantly fell. According to the SF Chronicle, “the accelerated declines are likely to bring the real estate market to a bottom later this year”.
However, there may be a light at the end of the tunnel. Hitting rock bottom means a incline in the near future. I guess that’s one way of looking at it.
The Chron reports that, “For the nine-county Bay Area, Zillow shows a median home value in the fourth quarter of $463,246, down 3.6 percent compared with a year earlier, and down 31.8 percent from a peak of $679,159 in April 2006.”
For the full article, go here.
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