Zillow, an online real estate information marketplace, recently released their Q3 2012 Real Estate Market Report. In the report, Zillow documents a 1.3% home value increase nationwide from Q2 2012 to Q3 2012.
Over the next year (September 2012 to September 2013), house values nationwide are expected to increase by 1.7%. Key markets like Miami-Fort Lauderdale are expected to do much better, due in part to the number of homes listed for sale not meeting demand.
Following are additional key findings from the Zillow report:
- 181 of the 253 markets covered by the Zillow Home Value Forecast are expected to see an increase in home values over the next year (September 2012 to September 2013).
- Miami- Fort Lauderdale market is expected to see home value increases of 3.8%, the fifth highest market on the Zillow list, over the same period.
- The continued improvement of the unemployment rate, coupled with low mortgage rates is positively affecting consumer confidence.
- New housing projects have increased by 34.8% over the last year.
