The Real Deal Miami

Zillow: homes lose $1.7 trillion

December 09, 2010 11:21AM

The Miami-Fort Lauderdale metro area saw a total home value loss of $16.3 billion, according to a report from Zillow.com. The bulk of the total value lost in 2010 was in the second half of the year, according to the report. U.S. homes are expected to have lost in excess of $1.7 trillion in value in the past year, a 63 percent increase over $1 trillion in value lost the year before. Looking at 129 markets Zillow tracks, the firm projects that from June to December, residential home value losses will top $1 trillion. [SFBJ]