• Skip to primary navigation
  • Skip to main content
  • Skip to footer

Seisin Realty Group, Inc.

Seisin Realty Group

  • Search
  • Sell
    • Selling your home
    • Why use Seisin Realty Group
  • Property Management
    • Rental Application Requirements
  • Rent
  • Real Estate News
  • Login
  • Facebook
  • Twitter
Contact Us

Home Prices – Monthly Drop in August according to Zillow

You are here: Home / Real Estate News / Home Prices – Monthly Drop in August according to Zillow

September 20, 2012 by David Garrett

Home prices dropped in August month-over-month after rising for nine consecutive months. However, the drop was mere a 0.1 percent. At an average of $152,100, prices were still up on a yearly basis, showing an increase of 1.7 percent.
“Home values took a small hit in August, but this shouldn’t be cause for alarm,” said Zillow Chief Economist Dr. Stan Humphries. “The back half of the year is always softer than the front half, and this year is no exception. We’ve been encouraging folks to focus on the longer term trends and not monthly blips. Home values will rise a little and fall a little, month by month, in the near future, but we believe the overall trend will remain positive albeit still below normal rates of appreciation.”
The larger markets to see monthly price decreases were Chicago (-0.7 percent), New York (-0.3 percent) and Boston (-0.2 percent) metros.
On the other hand, rent increased 0.2 percent on a monthly basis and 5.9 percent yearly, rising to of $1,280. Rents have climbed higher for seven straight months, with some metros seeing double-digit yearly increases, including Chicago (12.8 percent), the Baltimore (12.4 percent) and the Philadelphia (10.5 percent).
Foreclosures in August fell, with 6 out of every 10,000 homes becoming a foreclosure, a decrease from 6.4 out of every 10,000 homes the month before.

Real Estate News

Footer

Seisin Realty Group, Inc.

10300 Fourth Street #150
Rancho Cucamonga, Ca 91730
DRE LICENSE #01911957

Theresa - (909) 528-0843

theresa@seisinrgi.com

Company

  • PROPERTY MANAGEMENT SERVICES

Sitemap

  • Home
  • Search
  • Contact Us
Best Property Managers in Rancho Cucamonga

Seisin Realty Group, Inc.  DRE License #01911957 Return to top