May 23, 2008

Trends in Home Prices: national, metros and your own home.

National: MSN Money article: Home Prices Take Record Drop
They say that prices dropped a record of 3.7% from March 2007 to March 2008.

Metros: Money also has Home Prices by City for the largest 292 metro areas so it is pretty likely to cover your home city if you live in a decent size metro. The Matrix site has some nice graphics showing national map and trends per county.

Your home: One way to get a measure of the value of your own home is to check on the site Zillow estimates home prices per address and is likely to have your home if it has ever recorded a sale. They estimate your house price based on the market in your area by tracking sales. So if houses are selling for more or less in your city/ neighborhood then you can figure that your house will be fore or less as well. Zillow estimates are only rough figures and don't know anything about the specific condition of the home, so its only a rough ballpark.

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