Click Here

REALTORŪ Magazine Online: The real estate professional's business support tool.


Daily Real Estate News  |  May 10, 2011  |   1 in 4 Homes With Mortgages Are Underwater
The number of home owners who owe more on their mortgage than their house is worth continues to increase. About 28 percent of homes with mortgages are now underwater, according to’s latest Home Value Index. That is up from 27 percent reported during the last three months of 2010.

A flood of foreclosures continues to weigh on many markets and is putting downward pressure on home prices.

Zillow’s latest index, which covers 132 markets, showed that 97 percent of home owners saw a decrease in home values.

However, three real estate market bright spots were uncovered: Fort Myers, Fla., Champaign-Urbana, Ill., and Honolulu, which all posted quarterly increases. Home values in those cities increased 2.4 percent, 0.8 percent, and 0.3 percent, respectively.

Source: “Zillow Index: Accelerating Real Estate Price Declines,” Inman News (May 9, 2011)

Browse all of today's news
E-mail this page to a friend
Give us feedback

Search news
Launch my search
Subscribe to news
Subscribe to News
Daily and weekly real estate news, trends, NAR press releases, convention coverage, plus exclusive features and columns.

RSS Feed
Get the Daily Real Estate News delivered straight to your desktop or news aggregator. (New to RSS? Learn the basics here.)
How did you sell it?
Tell us how you overcame hurdles to sell a challenging or very unique listing!