zillow study

U.S. Home Values to Fall by $1.7 Trillion in 2010

U.S. homes will lose a total of $1.7 trillion in value in 2010, according to real estate site Zillow. The value lost this year will be 63% more than in 2009, and will take the total value lost since June 2006 to more than $9 trillion, Zillow said on its blog.

Survey: Homeowner Confidence Weakened in Second Quarter

A survey by real estate website Zillow.com showed homeowner confidence fell in the second quarter, with one-third saying that home prices had not yet touched bottom. Pessimism about home values in the near-term was worse than in the previous three quarters, Reuters reported. Thirty-three percent thought home values in their area would fall further, while 38% believed prices had already touched bottom.