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The State of the Housing Market Today Housing Renaissance San Diego, CA August 2012

The State of the Housing Market Today Housing Renaissance San Diego, CA August 2012. Stan Humphries, PhD Chief Economist stan@zillow.com 206.470.7127. Home values are stabilizing (June ZHVI for US) . Home values are back to 2004 levels.

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The State of the Housing Market Today Housing Renaissance San Diego, CA August 2012

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  1. The State of the Housing Market TodayHousing RenaissanceSan Diego, CAAugust 2012 Stan Humphries, PhD Chief Economist stan@zillow.com 206.470.7127

  2. Home values are stabilizing (June ZHVI for US) Home values are back to 2004 levels ZHVI covers 83 million single-family, condo, coops and excludes foreclosure re-sales. Source: Zillow

  3. Home values are stabilizing (June ZHVI for US) Source: Zillow

  4. Affordability is at historic highs (United States)

  5. Affordability is at historic highs (Phoenix)

  6. Affordability is at historic highs (Miami)

  7. Affordability is at historic highs (Las Vegas)

  8. All but two metros have historically high affordability

  9. Wide variation in how markets have fared during downturn Decline in home values from peak levels Source: Zillow

  10. …and how they will fare over coming year Source: Zillow

  11. And wide variation at sub-metro level

  12. And wide variation at sub-metro level

  13. And wide variation at sub-metro level

  14. And wide variation at sub-metro level

  15. Negative equity will have a significant impact on the market… Source: Zillow

  16. Negative equity will have a significant impact on the market… Loan to Value Distribution for Homeowners with a Mortgage (U.S.) Source: Zillow

  17. …but not entirely in the way we thought it would.

  18. …but not entirely in the way we thought it would.

  19. …but not entirely in the way we thought it would.

  20. Foreclosure crisis continues to fuel rental demand Source: Zillow

  21. Over the last year, rents have significantly appreciated Year-over-Year Zillow Rent Index Source: Zillow

  22. In many metros, the price-to-rent ratio has been falling

  23. Many metros have incredibly low breakeven horizons

  24. About In-depth research and monthly reports www.zillow.com/research Real Estate Metrics • Zillow Home Value Index • % homes in negative equity • List prices • Sale prices • Rental prices • Home sales • $ value/square foot • $ price/square foot • Sale-to-list price ratio • % listings with price cuts • $ amount of listing price cuts • % homes sold for loss/gain • % homes foreclosed • % sales that are foreclosure re-sales • % homes increasing/decreasing in value • % homes sold in the past year Interactive data portal www.zillow.com/local-info

  25. About Zillow About Zillow®, Inc. Zillow is a real estate information marketplace providing vital information about homes, real estate listings and mortgages through its website and mobile applications, enabling homeowners, buyers, sellers and renters to connect with real estate and mortgage professionals best suited to meet their needs. Zillow, Inc. operates Zillow.com, Zillow Mortgage Marketplace and Zillow Mobile. With 32 million unique users of its website and mobile applications during March 2012, Zillow's goal is to help people make intelligent decisions about homes in every stage of their lives. -- home buying, selling, renting, remodeling and financing. The company is headquartered in Seattle. Zillow.com, Zillow and Zestimate are registered trademarks of Zillow, Inc. Press Contact: press@zillow.com

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