National Home Values Expected to Increase by 3.3% in 2014

Zillow's first quarter Real Estate Market Reports show home values increased 0.5 percent from the fourth quarter of 2013 to $169,800. The Zillow Home Value Index (ZHVF) climbed 5.7% from March 2013 levels. On a monthly basis, home values are up 0.2% nationally. Zillow writes, "According to the Zillow Home Value Forecast (ZHVF), we expect national home values to increase 3.3 percent over the next year (March 2014 to March 2015). Of the 301 markets covered by the Zillow Home Value Forecast, 282 markets are expected to see increases in home values over the next year, with the largest increases expected in the Riverside metro (12.0 percent) and the Orlando metro (8.2 percent)." Nationally, the number of homes listed for sale on Zillow was down 0.5% annually in March (seasonally adjusted), after having increased on a monthly basis late last year for several months in a row. Inventory rose on an annual basis in 337 out of 648 metros Zillow covers with inventory data.