Zillow.com just released a new report assessing the trend in home values across the country. Granted, you could question the accuracy of Zillow’s findings, since it isn’t based just on home sales but on Zillow’s proprietary assessment of home values, but it’s still a fun exercise.

The bottom line: Zillow says nationwide, home values were down 0.5% year-over-year and values declined 4.77% in the fourth quarter alone. The folks at Seattle-based Zillow say it’s the first 12-month decline they’ve seen in their data, which goes back as far as 1997.

The three highest-appreciating metro areas over the past 12 months were:
-Lakeland-Winter Haven, FL (25.88%)
-Yuma, AZ (25.66%)
-Myrtle Beach, SC (21.24%)

And the three metro markets that suffered the largest year-over-year decline:
-Panama City, FL (-11.84%)
-San Luis Obispo-Atascadero-Paso Robles, CA (-11.35%)
-Punta Gorda, FL (-9.23%)

To read the press release with the highlights, click here.

For a look at Zillow’s national and local market data, click here.

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