Zillow: Real Estate is Local Again

June 23, 2015

According to Zillow Real Estate Research, individual housing markets  are responding to their local economics instead of riding the wave of recovery this home-buying season.

Though cooling down nationally, home value growth slowly diverges from region to region, which Zillow Chief Economist Stan Humphries says is a sign of recovery.

“What we’re seeing is the passing of the baton — as mortgage rates begin to rise, and incomes and household formation rates increase — from a stimulus-driven housing market to one driven by fundamentals,” Humphries said.

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