home values

Prices for single-family homes have fallen to their lowest level since the housing bubble burst in 2006. The latest S&P/Case-Shiller index for March shows prices dropping in 18 out of 20 major metro areas.

The nationwide index fell for the eighth straight month. A glut of foreclosures is a major reason home values continue to deteriorate.

Millions of people could decide to stop paying their mortgage because their home values have sunk far below what they owe, economists estimate.

For one California couple, whose home is worth one-fifth of what they paid, the temptation to call it quits is very real.

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In states like Florida, California and Nevada, the collapse of the housing market has driven down home values dramatically.

That means lower property tax revenue for local governments. Counties across the country say property tax collections may decline by 10 percent or more over the next few years.

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I just received this news flash via email from Zillow: Home values in Austin increased 8.7% According to the latest...

(via Austin Real Estate Blog)

Across the country, housing starts are down dramatically.

During 1998, Austin builders started construction on slightly more than 8,000 houses last year.

This was the lowest number in 11 years.