Housing Market Turns Corner; U.S. Home Values Post First Annual Increase In Nearly Five Years

Key facts:

– National home values have reached a bottom. Median home values, as measured by the Zillow® Home Value Index, have risen for four consecutive months.
– U.S. home values rose 0.2 percent from the second quarter of 2011 to the second quarter of 2012. This was the first annual increase in U.S. home values since 2007.
– The Zillow Home Value Forecast shows that 67 of the 156 markets it covers will experience an increase in home values over the next 12 months. Nationally, Zillow forecasts home values will rise 1.1 percent.

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Source: Zillow