Zillow Chief Economist Stan Humphries appeared on Fox Business this week to discuss Zillow’s first quarter Real Estate Market Reports.
Home values rose just 0.5 percent in the first quarter of 2013, compared with a gain of of 2.1 percent in the fourth quarter of 2012. However, on an annual basis, home values are still up 5.1 percent. Historically, home values increase roughly 3 percent a year. Humphries discusses why the slow down this quarter is actually a good thing for the housing market and what we can expect in the coming year.