The Real Deal Miami

SF home value losses begin slowing

December 30, 2011 12:47PM

While South Florida homes lost a total value of $6.5 million in 2011,
the tide is beginning to turn, according to Zillow.com. In 2010, home values
in the region lost a total of $28.6 billion, the Sun Sentinel reported.
Nationally, though, the recovery is still a daunting task.
“Unfortunately, when we look ahead to next year, the unabsorbed pool of
housing supply, draggling levels of consumer confidence, high
unemployment and negative equity will continue to put downward pressure
on the housing market,” said Stan Humphries, chief economist for Zillow. [Palm Beach Post]