Posted by: Marvin Remmich | December 14, 2011

Prices Decline Slightly But Show Signs of Stabilizing

While home values are continuing to decline, they are beginning to stabilize as the market nears the bottom, according to the Zillow Real Estate Market Report released Tuesday. On a yearly basis, the average home price fell 5.1 percent in October, arriving at $147,000. However, on a monthly basis, the drop was just 0.3 percent, demonstrating a deceleration from recent declines. In addition to stabilizing prices, Zillow reported another positive sign for the market, with the foreclosure liquidation rate slipping to 8.1 out of every 10,000 homes.


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