October Marks 12th Consecutive Month of National Home Value Increases

    October Marks 12th Consecutive Month of National Home Value Increases

Monthly Increase Largest Since August 2005; Chicago Only Major Metro with
Month-over-Month Value Declines in October

PR Newswire

SEATTLE, Nov. 21, 2012

SEATTLE, Nov. 21, 2012 /PRNewswire/ --National home values continued their
year-long climb in October, rising 1.1 percent from September to a Zillow®
Home Value Index^i of $155,400, according to the October Zillow Real Estate
Market Reports^ii.

The monthly increase was the largest since August 2005, when home values rose
1.2 percent month-over-month, and represents the twelfth consecutive monthly
increase. Annually, home values were up 4.7 percent from October 2011, the
largest gain since September 2006.

Of the nation's 30 largest metro areas covered by Zillow, only Chicago
experienced monthly home value declines. Additionally, 26 of the country's
largest metros experienced year-over-year value increases. Major markets where
home values increased the most over the past year include Phoenix (22.3
percent), San Jose (11.4 percent), Denver (10.4 percent), San Francisco (9.5
percent) and Miami-Ft. Lauderdale (8.8 percent).

National rents were largely flat month-to-month, falling 0.1 percent to a
Zillow Rent Index^iii of $1,279. Year-over-year, rents nationwide were up 5.4
percent and rose on an annual basis in all but three of the largest metros
surveyed.

"We've reached a milestone with one full year of monthly home value gains,"
said Zillow Chief Economist Dr. Stan Humphries. "Those dubious about the
durability of the housing recovery will point to the large role that investors
are playing in the recovery, or to the large number of foreclosures yet to hit
the market, as factors to be wary of. But the bottom line is that homes are
more affordable now than at any time in recent memory, and buyers are seizing
this opportunity. We expect to see increasing numbers of potential buyers
entering the market as the broader economy continues to recover and household
formation picks up further. We're hopeful that negotiations over the 'fiscal
cliff' don't derail this momentum."

Foreclosures also fell in October, with 5.57 out of every 10,000 homes in the
country being foreclosed during the month. That was down 0.8 percent from
September, and down 1.9 percent year-over-year.

                                                    

                         Zillow Home Value Index     Zillow Rent Index

Metropolitan Areas                                  
                         Oct.                 YoY    Oct.   MoM       YoY
                                   MoM Change               Change
                         2012                 Change 2012             Change
                                                           
                                                                   
United States            $155,400 1.1%         4.7%  $1,279 -0.1%     5.4%
New York                 $342,100 0.3%         -1.2% -      -         --
Los Angeles              $403,700 1.3%         4.7%  $2,291 0.0%      4.0%
Chicago                  $161,700 -0.2%        -2.1% $1,532 -0.3%     9.5%
Dallas-Fort Worth        $130,200 1.2%         5.1%  $1,327 -0.2%     4.1%
Philadelphia             $186,400 0.4%         -0.9% $1,491 -0.1%     5.7%
Washington DC            $319,800 0.9%         3.7%  $2,063 -0.4%     5.1%
Miami-Fort Lauderdale,   $150,200 0.5%         8.8%  $1,600 0.1%      2.8%
Fla.
Atlanta                  $112,800 1.0%         -2.4% $1,131 -0.5%     0.2%
Boston                   $314,400 0.7%         3.1%  $1,974 -0.4%     6.5%
San Francisco            $506,500 1.1%         9.5%  $2,506 0.5%      7.0%
Detroit                  $79,700  1.4%         7.7%  $1,058 1.1%      4.6%
Riverside, Calif.        $190,800 1.1%         5.6%  $1,564 0.4%      0.8%
Phoenix                  $153,700 2.0%         22.3% $1,155 -0.2%     2.2%
Seattle                  $266,800 0.9%         4.6%  $1,631 -0.4%     3.8%
Minneapolis-St Paul,     $171,600 0.2%         4.3%  $1,452 -0.3%     6.0%
Minn.
San Diego                $360,200 1.0%         5.4%  $2,127 -0.1%     2.8%
Tampa, Fla.              $111,900 0.9%         5.3%  $1,184 0.1%      1.8%
St. Louis                $125,800 0.2%         0.2%  $1,107 -0.4%     4.5%
Baltimore                $220,800 0.5%         2.0%  $1,677 -0.4%     8.7%
Denver                   $224,700 1.4%         10.4% $1,508 -0.1%     5.9%
Pittsburgh               $111,100 1.1%         3.3%  $1,042 0.6%      5.6%
Portland, Ore.           $226,800 1.0%         5.8%  $1,397 -0.8%     5.4%
Sacramento, Calif.       $216,500 2.1%         6.9%  $1,465 -0.5%     2.8%
Orlando, Fla.            $122,800 0.2%         3.3%  $1,206 -0.2%     2.1%
Cincinnati               $123,800 0.3%         1.8%  $1,071 0.6%      -0.8%
Cleveland                $110,100 0.5%         0.3%  $1,083 -0.2%     -0.3%
Las Vegas                $123,500 1.1%         8.6%  $1,153 -0.3%     -1.8%
San Jose, Calif.         $606,100 0.9%         11.4% $2,609 -0.1%     4.3%
Columbus                 $127,500 1.6%         3.4%  $1,130 -1.6%     3.7%
Charlotte                $135,600 0.2%         1.9%  $1,150 -0.4%     8.4%

About Zillow, Inc.

Zillow (NASDAQ: Z) is the leading 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. In addition, Zillow operates an
industry-leading economics and analytics bureau led by Zillow's Chief
Economist Dr. Stan Humphries. Dr. Humphries and his team of economists and
data analysts produce extensive housing data and research covering more than
350 markets at Zillow Real Estate Research. Zillow, Inc. operates Zillow.com®,
Zillow Mortgage Marketplace, Zillow Rentals, Zillow Mobile, Postlets®,
Diverse Solutions® and Buyfolio™. The company is headquartered in Seattle.

Zillow.com, Zillow, Postlets and Diverse Solutions are registered trademarks
of Zillow, Inc. Buyfolio is a trademark of Zillow, Inc.

^i The Zillow Home Value Index is the median Zestimate® valuation for a given
geographic area on a given day and includes the value of all single-family
residences, condominiums and cooperatives, regardless of whether they sold
within a given period. It is expressed in dollars, and seasonally adjusted.

^ii The data in Zillow's Real Estate Market Reports is aggregated from public
sources by a number of data providers for 276 core-based statistical areas
dating back to 1996. Mortgage and home loan data is typically recorded in each
county and publicly available through a county recorder's office.

^iii The Zillow Rent Index is the median Rent Zestimate (estimated monthly
rental price) for a given geographic area on a given day, and includes the
value of all single-family residences, condominiums, cooperatives and
apartments in Zillow's database, regardless of whether they are currently
listed for rent. It is expressed in dollars.

SOURCE Zillow, Inc.

Website: http://www.zillow.com
Contact: Cory Hopkins, Zillow, +1-206-757-2701, press@zillow.com
 
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