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Tuesday, October 11, 2011

Zillow: Monthly home values steady, but yearly prices down 4.5%

Home values saw minimal monthly gains, and the foreclosure rate stayed steady in August, according to Zillow (Z: 26.255 +0.21%).
Housing prices increased 0.1% from July to August, with mostly marginal gains in 68 of the 157 markets covered by Zillow. The national average price of a home was $172,600, down 4.5% from August 2010, and down 28.3% since its peak in June 2006.
Pittsburgh, Pa., was the only metro area of the largest 25 covered by Zillow to see year-over-year gains on home values, up 2.8%.
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