Zillow came out with Q2 2012 data today. The United States has hit a bottom in housing values and a majority of metros that the Zillow Real Estate Market Reports cover have also experienced their bottom. Some metros showed signs of a healthy pick-up in appreciation, such as Phoenix and Miami with a V-shaped recovery. Others are undergoing more of a soft landing and are currently coasting in positive value growth territory. As we have mentioned previously, the recovery is a highly local process and while a metropolitan area as a whole might still be depreciating, individual zip codes in the metro have already bottomed and are appreciating. In general, compared to a year ago home values are showing some appreciation in all metros.
The dashboard below shows zip code level data from June 2011 on the left and June 2012 on the right. The first panel shows month over month change, the second quarter over quarter change and the third year over year change for all 167 metros covered by the Zillow Real Estate Market Reports.