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U.S. Median Home Value Has First Decline in Three Years
August 25, 2015
The median U.S. home value fell 0.1 percent in July from the previous month to $179,000, though it is still up 3 percent from a year ago.
According to Zillow, “slower home value growth could be a boon for potential buyers.” Moreover, this could also entice potential sellers, boosting supply.
Though this is the first nationwide home value decrease in three years, Zillow says that “monthly growth has been sputtering for months.” Examples are Baltimore and Washington, D.C., where values have fallen month-over-month for the past three months.
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