The Real Deal Miami

South Florida home values fall

May 09, 2011 12:54AM

Home values in South Florida fell 12.8 percent in the first quarter of
2011, according to a report from Zillow.com. Price declines in the
tri-county area, though slowing, were the fifth-lowest in the United
States, falling by 17.3 percent to $137,300. Nationally, homes fell to
an average of $169,000 in the first quarter, according to the
Seattle-based real estate company. Zillow now says that it is unlikely
that the market will bottom out this year, contrary to its previous
prediction. [Sun
Sentinel]