According to a Wall Street Journal article this morning, Zillow has just released their t Q1 Home Value Report. It shows that “U.S. Home Values in the first quarter posted the largest decline in more than a decade, falling back to 2005 levels.”
Here’s what the Zillow report details year over year median Zestimate (Zillow’s estimate of value) for local cities:
| City | Year over Year Change |
| Edgewood | -.6% |
| Milton | -3.7% |
| Sumner | -3.5% |
| Puyallup | -3.8% |
| Fife | -5.0% |
| Federal Way | -6.9% |
| Tacoma | -.9% |
The report goes into much more detail. But the bottom line is that all areas have experienced a decline in values over the past year (at least as measured by Zillow’s median Zestimates).
Contrary to a lot of folks belief, the Seattle-Tacoma area is not immune to the housing declines seen elsewhere.
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1 The City of Edgewood wants you to buy a park... at a price of $2760 per taxpayer. | Edgewood, WA Real Estate Blog // May 7, 2008 at 6:43 am
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