U.S. Home Values Rose For The 49th Month In A Row In August

September 22, 2016

According to the August Real Estate Market Report from Zillow, in August the median U.S. home value rose to a Zillow Home Value Index of $188,100, up 0.4 percent from July and 5.1 percent from August 2015.

The site reports that it's the 49th consecutive month that the median home value has increased on a year-over-year basis. In each month in 2016, annual home value growth has been no slower than five percent per year.

A potential answer for why the market has been so stable of late, as it happens so often in real estate, could boil down to location, location, location. … Some once red-hot markets, including the San Francisco Bay Area, have cooled considerably this year. … At the same time, home value growth in other markets – particularly in the booming Pacific Northwest – has picked up the pace. In the Seattle metro, annual home value growth has accelerated from a 10.4 percent annual pace in January to 11.3 percent in August. In Portland, annual home value growth has picked up from a 13.2 percent pace at the beginning of the year to 14.8 percent currently.

Only one of the 35 largest markets has had annual home value declines, and national median rents rose 1.7 percent year-over-year to $1,405 per month.

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