Broker Beware
By Pat Picket, Real Estate Business Magazine, May/June 2009
For the eighth consecutive quarter, home values in the United States fell, declining 11.6% during 2008, according to the Zillow Real Estate Market Reports detailing 161 metropolitan areas.
Translating that percentage into dollars and cents, U.S. homeowners lost a cumulative $3.3 trillion in home value during 2008, with much of that loss coming in the fourth quarter. Since the housing market’s peak in 2006, $6.1 trillion in home values have been lost.
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