The Boston Journal via Zillow:
According to the Zillow analysis, Boston-area home values were down 5.3 percent on a year-over-year basis as of March 31 and had tumbled 2.6 percent from the end of 2010. The region’s average single-family home value was $305,800 at the end of the quarter, versus the national average of $169,600. Zillow said the pricing averages are derived from its Home Value Index and include all homes, and “not just those that sold in a particular period.” Zillow said Boston-area prices have slipped 23.2 percent since their peak in July 2005 and are back to where they were nearly a decade ago in June 2002. The trends appear to be forcing more homeowners to sell at a loss. According to Zillow, 33.9 percent of all first-quarter sales went for less than their prior purchase prices. That was up roughly 3 percentage points on both a year-over-year basis as well as a quarter-to-quarter basis. Nationally, 37.7 percent of all home sales were at a loss in the first quarter — a new record, according to Zillow. … Read more: Losses rise as Boston housing market tumbles | Boston Business Journal
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Updated: 1st Q 2018
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