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Home lost nearly a half trillion in value in 2009
OPS_admin | Dec 09, 2009 | Comments 0
Residential real estate owners suffered through another down year, but losses were much lower than in 2008.
American homeowners will have lost nearly $500 billion in home value by year’s end.
Still, that’s a big improvement over 2008, when values fell by $3.6 trillion, according to a report released Wednesday by real estate Web site Zillow, which provides online appraisals for tens of millions of properties nationwide.
“Home values stabilized significantly during the second half of 2009, with the total dollar value of U.S. homes increasing since June,” said Zillow’s chief economist, Stan Humphries, in a prepared statement. “Most housing markets across the country had a good summer, spurred largely by the government’s tax credits for homebuyers combined with very low mortgage rates.”
Full Story Home lost nearly a half trillion in value in 2009 – Dec. 9, 2009.
Filed Under: Economy - Labor
