Home Values Rising Unevenly Across the Nation, Zillow

Seattle, WA, September 24, 2015—Not all markets are experiencing the housing recovery evenly, according to a Zillow report called A Deeper Dive into Decreasing Home Values.

In many areas, even as median home values rise overall, large numbers of individual homes themselves are actually losing value.

Nationally, 28% of homes lost value between August 2014 and August 2015, compared to the pre-bust (1998 through 2005) average of 22%.

And the differences in the share of homes losing value from metro-to-metro is striking: in the larger Denver metro, just 1.5% of homes lost value year-over-year in August, compared to 48.1% in the Greater Baltimore area.

But differences within metro areas are also interesting, and indicate both pockets of relative strength within metros and areas still struggling to recover.

For example, only 24.8% of homes in ZIP code 21040 in the city of Edgewood to the northeast of the City of Baltimore are losing value, a share roughly half as large as the bigger Baltimore metro as a whole. But in ZIP code 21623 in the community of Church Hill, across the Chesapeake Bay from Baltimore, 74.1% of homes are losing value. In the Denver area, less than 1% (.07%) of all homes in ZIP code 80017 in the city of Aurora lost value year-over-year in August, compared to 23% in ZIP code 80827 in the community of Lake George.