Five Cities Likely To Depreciate in 2010

Matt Phair, HousingZone Contributing
January 21, 2010
HousingZone

Five of the 25 metro areas tracked by national real estate website Zillow.com are very likely to show renewed depreciation in the coming months, according to its Chief Economist Stan Humphries. These include Baltimore, Boston, Cleveland, Denver and Los Angeles, which have experienced consecutive monthly growth for 6, 9, 1, 9 and 7 months, respectively.

In twenty-five of the most busiest metro markets tracked by Zillow, other markets that have exhibited positive appreciation in recent months are seeing renewed depreciation:

San Diego was down 0.1% in November after six consecutive months of gains.

Seattle was down 0.1% after four consecutive months of gains.

Washington D.C. was down 0.1% after being flat in October.

In November, twelve had negative monthly changes in home values.

In October, only nine experienced negative monthly changes.

U.S. home values in November showed continued stabilization when compared to previous months, with the Zillow Home Value Index (ZHVI) down 0.1% from October, and down 5% from levels a year ago. The ZHVI was $190,000 at the end in November, down 21% from its peak value of $239,500 in June 2006.