US

These Charts Show How Dismal the Housing Market Really Is…Again

The team over at Zillow Real Estate Research has just published its first quarter research numbers showing some dismal numbers for the housing market.

“Home values fell three percent in the first quarter of this year, marking a pace of decline not seen since 2008 when the housing recession was at its worst,” the group says. “Home values fell one percent between February and March and 8.2 percent from March 2010. The cumulative decline in home values since the market peak is now 29.5 percent (see Figures 1 and 2).”

Those figures are below:

These Charts Show How Dismal the Housing Market Really Is...Again

These Charts Show How Dismal the Housing Market Really Is...Again

Business Insider highlights some other points from the report:

  • Nearly 75% of homes in the US lost value from Q1 2010 to Q1 2011. That’s up from 69% the quarter before.
  • Negative equity hit a brand new high of 28.4%.
  • Foreclosure re-sales hit a brand new high, representing 23.7%.
  • Meanwhile, the supply of distressed home continues to be massive. 2 million homes are in the foreclosure process, with another 1.5 million seriously delinquent.
Read the whole report here.

Comments (103)

1 2
  • Whostolemypig
    Posted on May 9, 2011 at 1:06pm

    We don’t need jobs and housing, no self respecting third world country would worry about such things. Be happy, after all our lord and savior Obama has saved us from bin Laden. Sing his praises when you are groped as you get in the cattle cars.

    Report Post »  
  • Ron_WA
    Posted on May 9, 2011 at 1:05pm

    Housing, jobs, energy, food, transportation, commodities, etc. the administration keeps spinning the numbers & the story to make it seem as if things are far better than they really are.

    It’s not all doom & gloom but stop sugar coating it. Give it to us straight so we can get down to the facts & address the real problems.

    Report Post » Ron_WA  
  • Micmac
    Posted on May 9, 2011 at 12:54pm

    I agree. Zillow is useless. To be effective it has to be area/market-specific. I’ve been waiting for this Double-Dip, which no one is talking about – where is the media on top of this?? Including Fox et al. Instead all I see on the toob is OBL OBL, OBL, what this will do for BHO BHO BHO, and what will spike ratings. 15 mins. of fame, no long-term thought. Has anyone else noticed that Fox has moved a little to the left lately? Juan Williams is now on EVERY panel, Huskster is a RHINO on many issues (frankly I hear a little Jimmy Carter in him sometimes), O’Reilley has backed off alot of issues, Glenn is off to disappear and do other things, so Fox can get better advertizers. etc, etc, etc. Well enuf of the digression.
    This housing market will be here for another 2-3 years so just plan on it, I’ve seen all the forcasts from many different economic groups for the last 3 years on a quarterly basis and so far they are pretty right on. But they say 2011 will be the bottom and 2012 will be like 2010, 5% growth in 2013 and no real recovery until 2018. But they also say that we will not see any recovery until BHO is out of office 12 months.

    Report Post »  
    • Non-sequitur
      Posted on May 9, 2011 at 1:12pm

      Actually I’d say that people here have moved to the right. Fox is as right-wing as always.

      Report Post »  
    • bburgdaddyo
      Posted on May 9, 2011 at 1:23pm

      Off general topic, but speaking to your post, the thing that really bugs me about O’Reilly for the past couple of years is that he always give Obama the benefit of the doubt, saying “Yeah, but he’s a smart guy…” There are a lot of people who are book smart, but not real world smart. I’d put Obama in that category.

      Report Post » bburgdaddyo  
  • onegodinkansas
    Posted on May 9, 2011 at 12:38pm

    …stupid obama…

    Report Post »  
  • bburgdaddyo
    Posted on May 9, 2011 at 12:28pm

    Zillow is a joke. As a REALTOR, there’s no doubt that the housing market remains soft and probably will be for another 12-18 months, or as long as it takes to substantially clear distressed properties from the market. However, I don’t advise looking to Zillow for anything regarding home values (or for any matters regarding real estate). Go instead to your local REALTOR to get the facts on your area based on hard sales data, not on public records like Zillow seems to rely on.

    Report Post » bburgdaddyo  
    • Watchingtheweasels
      Posted on May 11, 2011 at 2:54pm

      Most local realtors will not tell buyers the truth about the housing market as it will directly reduce their commissions. Remember that a realtors goal is to close the sale at the highest price possible.

      Report Post »  
  • wianno94
    Posted on May 9, 2011 at 12:21pm

    Once Fannie and freddie take most houses out there…..reparations baby!

    Report Post »  
  • Outlaw_Josey_Wales
    Posted on May 9, 2011 at 12:20pm

    Barney Franks took it in the rear during the housing crisis.

    Report Post » Outlaw_Josey_Wales  
  • just the facts
    Posted on May 9, 2011 at 12:09pm

    Has anyone noticed that according to the graphs, the decline began when the democrats (now know as progressives) took control in 2006?? This really speaks volumns if one starts to put the last six years into perspective. In all, President Bush may be the person everyone is trying to blame and point fingers at, but from a clear, unadulterated perspective, its the progressive/democratic adgenda that fueled this scenerio.

    Report Post »  
    • integrican
      Posted on May 9, 2011 at 1:03pm

      That is exactly right.
      And the GOP controlled houses balanced the budget under Clinton.
      Clinton gets the praise and Bush gets the blame.
      I truly wish people would see the real issue is taking back the Houses of Congress, in 2012!!!!

      Hundreds (the Congress and Senate) can pull the ‘rope’ harder than just one. (POTUS)

      Report Post » integrican  
  • taxedenuf
    Posted on May 9, 2011 at 11:57am

    Florida, Nevada, and some other resort areas are suffering because flip this house was a big hit amongst our get rich quick society. Michigan, Ohio, and the rust belt are suffering because unions and their democrat enablers have destroyed and sent overseas all our manufacturing jobs. The reason manufacturing numbers appear to rise in the gubmint statistics is because hamburger flipping is now manufacturing.

    Report Post »  
  • TMan2020
    Posted on May 9, 2011 at 11:51am

    Big government just doing what it does best! Thank you, Washington DC…

    Report Post »  
  • RightPolitically
    Posted on May 9, 2011 at 11:32am

    Well, whatever they’re doing is obviously working as well as most other things the government has its hands in. The American Dream has been turned into THE AMERICAN NIGHTMARE! Thanks everyone.

    Report Post » RightPolitically  
  • MarkBL
    Posted on May 9, 2011 at 11:14am

    Zillow is absolutely worthless! There is no sense behind their estimates. Not saying the housing market isn’t bad, just wanted to say what a joke Zillow is.

    Report Post »  
    • Susan Harkins
      Posted on May 9, 2011 at 2:37pm

      Yea, sounds like you like to “shoot the messenger”.

      Doesn’t give you much credibility, focusing on an entity when the message is about housing prices. Think about it.

      Report Post » Susan Harkins  
    • von der Recht
      Posted on May 9, 2011 at 3:02pm

      I can tell you that Zillow is prone to mistakes because they base their assessments on trends in large areas and have no way to assess location and condition of a specific neighborhood of house. Their take on trends is interesting however.

      Report Post »  
    • MarkBL
      Posted on May 9, 2011 at 5:54pm

      Doesn’t give me much credibility, Susan? I don‘t even know what you’re talking about You’re looking too deep into my comment. Like I said, I‘m not saying the market isn’t horrible, I‘m talking about this article basing it’s numbers off of a company that I have yet to see be very good at what they claim to do.

      Report Post »  
  • Patti-Momma-Ewok
    Posted on May 9, 2011 at 11:12am

    See what happens when you end government “programs” propping up the market. First itme homebuyers credit ended and watch it plummet back down. Imagine that…

    Report Post »  
  • In a Bunker
    Posted on May 9, 2011 at 11:11am

    Tell me about it. I have a foreclosure next door, 2 for sales across the street and another down the block that have been on the market for months now.

    Report Post » In a Bunker  
  • Bruce01
    Posted on May 9, 2011 at 11:10am

    The big question is; now that house prices have lost almost 30% in value, have the tax assessments lost equal amount of value? The answer is no… Townships all around this country would have to cut their budgets if this were to happen. Just go ahead and try and sell your house for the tax assessed value.. Yeah that might happen..

    Report Post »  
    • tankerBigRed1
      Posted on May 9, 2011 at 11:49am

      Here the assessor has been raising the valuation- real estate values are rising don’t ya know..

      Report Post » tankerBigRed1  
    • MidwestMomof3
      Posted on May 9, 2011 at 12:36pm

      Surprisingly, our community has gone about dropping assessed values for residential properties! :O

      However, as I live in a very rural part of America, the agricultural properties are getting slammed to make up the difference (my inlaws are ag) and businesses are getting raped (my brother owns one) in their taxes.

      Sadly, most of our community will just look at the feel-good measure of their property taxes going down and never even think to look at who’s making up the difference in the budget. Grrrrrrrrrs @ all the ignorants out there!

      Report Post » MidwestMomof3  
    • Bruce01
      Posted on May 9, 2011 at 3:58pm

      The Townships would be forced to make tough management decisions that all of us in the priviate sector have already done 3-4 years ago. If they were to reduce the property rates you can bet the tax rate would increase.

      Report Post »  
  • Russman
    Posted on May 9, 2011 at 11:10am

    Imagine what it would be if they weren’t manipulating the foreclosure rate……………………….

    Report Post » Russman  
    • HorseCrazy
      Posted on May 9, 2011 at 1:26pm

      yup! it would be horrific. As a commercial realtor who as sold off 4 of my franchised offices in the last 5 years, I can tell you we are screwed when the banks start listing their foreclosed homes which they have been holding onto. they will flood the market and further tank the prices. we are just beginning to see the start of the commercial real estate collapse. it’s right around the corner and its not looking good. wait til the big building owners fail and put the businesses out that rent the space. not good

      Report Post »  
  • nacilbuper
    Posted on May 9, 2011 at 11:09am

    Maxine, Barney, Chris. There is no problem here. Move along…

    Report Post » nacilbuper  
  • bhelmet
    Posted on May 9, 2011 at 11:09am

    Osama’s DEAD!!

    Report Post » bhelmet  
  • Gonzo
    Posted on May 9, 2011 at 11:08am

    The REAL unemployment rate would be interesting if we could ever find that out. I bet it hasn’t really been down to 15% since Obama invaded the White House.

    Report Post » Gonzo  
  • Birgitte
    Posted on May 9, 2011 at 11:04am

    Home values are down. Inflation is going up, which will cause values to be even lower because the money is worth less. this pattern will not hold for much longer before it all comes crashing down, no matter how much “stimulus” occurs.

    Report Post » Birgitte  
    • just the facts
      Posted on May 9, 2011 at 3:45pm

      I fully agree. But remember, barry and crew don’t care. They have an agenda and I feel nothing is to be put past them. They are a calculating crew and have people in place to enact the progressive movement. Everything that this administration has done has been measured and thought out. If anything, we, the american people although have seen, rationalized, and can see the the coming problems, they seem to be a step or two ahead of us. I believe things will get much worse and really won’t be felt until 2013. And even then things will continually worsen. Even after the conservatives or republicans or even the tea party regain some control, the actions needed to rebuild will be as or equally difficult and hard. This man and his administration as well as the progressive movement have set us back 10 to 15 years. They have done a great harm and dis-service to the people and country. People are hurting now and unfortunately will be hurting for some time after a good president arrives. Be prepared!! Sadly, we will see things get worse before they get better. The one good statement I can say is that when an Anmerican loving president does emerge, it will bring a positive outcry from most and allow the hard times to pass quickly.

      We must never forget what the progressives are and what they want. I would gladly put all on trial for treason.

      Report Post »  
  • Tigger House
    Posted on May 9, 2011 at 11:01am

    That slope looks nice for sledding.

    Report Post »  
  • Tigger House
    Posted on May 9, 2011 at 11:00am

    It is a nice looking slope for sledding.

    Report Post »  
    • 101
      Posted on May 9, 2011 at 3:18pm

      To steep, you would get going too fast and crash!

      Report Post »  
  • and to the republic
    Posted on May 9, 2011 at 10:59am

    I need some paddles…

    Report Post »  
  • BetterDays
    Posted on May 9, 2011 at 10:59am

    Nothing to see here, it’s just reality no one interested in reality, move along, move along. You there sir, come over here for your junk search before we’ll let you back into your house. Careful you stepped on a blade of grass it has human rights you know, your now a Eco terrorist, off to slave labor camp you go, move out prison. Next.

    Report Post »  
  • Obama Snake Oil Co
    Posted on May 9, 2011 at 10:58am

    I guess that hope and change is not going too well right now. Anyone heard from Christopher Dodd or Barney Franks lately. Even Obama had his hands in this terd.

    Report Post » Obama Snake Oil Co  
    • Darmok and Jalad at Tanagra
      Posted on May 9, 2011 at 11:04am

      The housing market isn‘t bad if you still have your job and aren’t moving. It’s only bad if you have been laid off, upside down in your house, and have to move to get a job. Then it’s bad, but hey, just make sure you take advantage of that Hybrid rebate, buy a new Volt, and get the Govt to redo your loan. Then everything is peachy keen.
      Or keep living in the fantasy world Obama lives in, then everything is Bushes fault, nothing is your fault and the Govt will fix your boo boo when you fall down.

      Remember, all animals are equal, but some are more equal.

      Report Post » Darmok and Jalad at Tanagra  
    • drattastic
      Posted on May 9, 2011 at 11:06am

      What economy ,what housing, what gas prices ,what jobs ,didn’t you hear obama killed osama,that’s all the media seems to talk about.

      Report Post » drattastic  
    • GrannyATL
      Posted on May 9, 2011 at 11:07am

      As a Realtor I have seen firsthand how the Obama Administration has created more red tape and unachievable hurdles for homeowners who are in distress, almost assuring the homeowner is forced into foreclosure. In that way Fannie and Freddie are becoming the land barons of our nation.

      All common-sense and easily applicable solutions have been ignored. After three years of watching the home market flounder, it is evident to us on the street that this is deliberate.

      Report Post » GrannyATL  
    • Snowleopard {gallery of cat folks}
      Posted on May 9, 2011 at 11:09am

      No, Obamas campaign of ‘hope and change’ indeed is going as HE planned; he sold us a bill of goods on the ‘hope’ and we bought it (most of America), the change is the ‘fundamental’ destruction and reduction of our country into a nightmare from which she may never awaken unless we keep up the effort to take her back one part at a time.

      There will be no easy solutions, yet we need to make them happen.

      Report Post » Snowleopard {gallery of cat folks}  
    • Gold Coin & Economic News
      Posted on May 9, 2011 at 11:13am

      But I thought we were in recovery?

      Report Post » Gold Coin & Economic News  
    • banjarmon
      Posted on May 9, 2011 at 11:22am

      The only one who had an improvement in housing was BO and family, when they moved into the WH.

      Report Post » banjarmon  
    • Gold Coin & Economic News
      Posted on May 9, 2011 at 11:23am

      Where prices are in one local:
      http://www.melbourne-palm-bay-living.com/palm-bay-real-estate.html

      Report Post » Gold Coin & Economic News  
    • MontanaRob
      Posted on May 9, 2011 at 11:30am

      banjarmon Posted: The only one who had an improvement in housing was BO and family, when they moved into the WH.
      —————————————————————————————————————-
      And who said crime doesn’t pay?

      Report Post » MontanaRob  
    • dabbo
      Posted on May 9, 2011 at 11:55am

      Chris Dodd Breaking Promise Not To Become A Lobbyist Just Weeks After Leaving Senate; Joining MPAA As Top Lobbyist. (recent headline)

      Dodd is one rat that escaped the ship before it has sunk….many others have and many more will before it’s all over. As you can see there will always be handouts for the political class….Dodd fell in $h1T and came out smelling like a rose.

      Report Post »  
    • banjarmon
      Posted on May 9, 2011 at 11:58am

      I’m Going to do every thing I can to evict BO form OUR WHITE HOUSE!!

      Report Post » banjarmon  
    • Susan Harkins
      Posted on May 9, 2011 at 12:00pm

      This is not a hard chart to believe.

      The Bank-bought congressional pols vote to bail out the (chokes) TBTF banksters and allow them to NOT report their balance statements according to GAAP rules. The banks take the money and play ‘casino’ in the stock market, tieing up the money that the “dreamy-eyed polititians” thought would be used to issue loans. The Banks tighten lending requirements and paperwork to keep the borrows at bay. The demand for housing goes through the floor because nobody has the capital (without a loan) to purchase a house. And those who own homes and are trying to sell them, have to keep lowering the price because nobody is stepping up to the plate with a new home loan.

      Any mystery here? I think not. This will persist until a median house of $174k can be purchased for as little as 500 – 1000 oz. silver. Its classic for real estate during a (yes we are in one now) Depression.

      Report Post » Susan Harkins  
    • kaydeebeau
      Posted on May 9, 2011 at 12:03pm

      What better way for the Gov’t to confiscate private property? Regulate and own the mortgage business, devalue the dollar and the economy, foreclose on property and voila – the gov’t owns the house and land….

      Report Post » kaydeebeau  
    • Girl
      Posted on May 9, 2011 at 12:06pm

      Did you know that the average American household is now spending 9% of its budget on gasoline? According to the Oil Price Information Service, American households are spending from 2% (where mass transit is readily available) to 14% of their income on gasoline. Gasoline excise taxes vary from state to state, but state governments are charging from 8 cents in Alaska to 37.5 cents a gallon in Washington, with the average appearing to be in the 22 cents per gallon range. The cost of gasoline impacts everything–food prices (which have risen some 30%), goods and services, heating and electric, even the cost of government. But are our leaders doing anything but talking about it? The Administration refuses to allow drilling for oil opting for very long term research and development of often pie in the sky “green” energy solutions. Oil company executive are being investigated for price gouging, but this does not increase the supply of badly needed energy. Congress appears to be so worried about reelection that neither Republicans nor Democrats offer any hope for a workable solution beyond rhetoric. If words could change physical events, the hot air do nothings that have been elected by the American people would be the most successful leaders on earth. But all that is being done is deception. If you keep talking about it and rearranging the debate, people think something is being done. If you are doing nothing more than blogging on THEBLAZE.COM, then you are no better than them!

      Report Post » ChildOfTheKing  
    • lcam67
      Posted on May 9, 2011 at 12:08pm

      I have a house in foreclosure in connecticut ( thanks dodd ) three years ago it was assessed at 220,000 ( 3 family ) in the last year i applied for two programs with wells fargo . denied both times . had the house sold on a short sale and yes was denied that too. the house is currently assessed at 115,000. and there is not one sole who wants to buy it. sooooo time to walk away . sad , thanks chris and barney.

      Report Post » lcam67  
    • Outlaw_Josey_Wales
      Posted on May 9, 2011 at 12:10pm

      Christopher Dodd is still looking for his mortgage papers from Countrywide.

      Report Post » Outlaw_Josey_Wales  
    • CatB
      Posted on May 9, 2011 at 12:21pm

      Dodd and Frank among others in GOVERNMENT should be in PRISON .. never forget >>>>>>>

      http://www.youtube.com/watch?v=_MGT_cSi7Rs

      Report Post »  
    • Eric_The_Red_State
      Posted on May 9, 2011 at 12:22pm

      I HOPE we make a CHANGE in 2012

      Report Post » Eric_The_Red_State  
    • cemerius
      Posted on May 9, 2011 at 12:43pm

      Don’t worry folks I hear fannie has their hand out for another 8.5 Billion dollar Government check to offset their 8.7 Billion dollar first quarter losses. Must be nice to be an “investor” with a zero risk venture!! First thing the Government defaults on when the debt ceiling IS NOT raised should be Fannie and Freddy so they can go in bankruptcy!!!!!! Chris Dodd is no longer a Congressman WHY is he NOT under prosecution for fraud and miss use of Governement funds???? Al Sharpton needs to be in the slammer under the RICO stature too!!!! I could make a list but I am sure we don’t have enough cells for these people unless they are prosecuted in Texas where death is an option too :)

      Report Post » cemerius  
    • 101
      Posted on May 9, 2011 at 12:52pm

      I knew it, I KNEW IT…I knew my home wasn’t going up in value just the property taxes : (

      Report Post »  
    • Gas137
      Posted on May 9, 2011 at 1:25pm

      One good thing about those of you who have mortgages. You’ll be paying the loan back to the bank with devalued currency. It’s a shelter for inflation.

      Report Post » Gas137  
    • TheLascone
      Posted on May 9, 2011 at 2:09pm

      The weak Dollar effects the housing market ….
      http://www.flickr.com/photos/23630227@N06/5642214398/in/photostream/

      Report Post » TheLascone  
    • Cemoto78
      Posted on May 9, 2011 at 2:27pm

      Thank you to ALL the politicians, greedy bankers, Wall Street, mortgage lenders, title companies, and real estate agents, and morons who bought more than they could afford, who all jumped on the greed wagon causing this travesty. Now we are finally a nation of victims.

      Report Post » Cemoto78  
    • fatjack
      Posted on May 9, 2011 at 3:45pm

      101
      Posted on May 9, 2011 at 12:52pm
      I knew it, I KNEW IT…I knew my home wasn’t going up in value just the property taxes
      ——————————————————————————————————
      I can feel your pain. The county was kind enough to lower my home value from $120,000 to $110,000 wasn’t that kind. However, on the right side of the page they upped the value of my land from $120,000 to $160,000 plus increased the millage rate. I too was double dipped.

      Report Post » fatjack  
    • scarebear83
      Posted on May 9, 2011 at 10:59pm

      @ Gold Coin… “But I thought we were in recovery?” Yeah of course we are but ya know *sweeps stats under rug* Just need to… um take care of this here… and yeah we’re in a recovery!

      Report Post » scarebear83  
    • jzs
      Posted on May 9, 2011 at 11:52pm

      Something tells me many of you can’t read graphs, something you should have learned in gradeschool. Sorry, I don’t mean to insult anyone but house values, according to the graph, went into a freefall two years before President Obama took office. Two years. And, you may recall, the world economy around that time began the decline into the the worst economic conditions since the Great Depression. The economy was at rock bottom when Obama took office.

      Go ahead and blame President Obama and his time machine for causing the problems that happened years before his admininstration took office. But feel free to blame that on President Obama. Palin agrees with you.

      Report Post » jzs  
    • Have a nice day
      Posted on May 10, 2011 at 12:02am

      Cash for Clunkers was supposed to ‘FIX’ all of this.

      Report Post »  
    • Ruler4You
      Posted on May 10, 2011 at 6:33am

      It was only hype of ‘cheap’ prices that got people buying. It is far from over. And people who bought houses thinking they were moving in at the bottom of the market, well, they are going to be surprised.

      Report Post » Ruler4You  
    • oldoldtimer
      Posted on May 10, 2011 at 4:52pm

      Those rework loans are a scam for the morgage companies to steal your home if you have a lot of equity.

      Report Post »  
    • jackrorabbit
      Posted on May 11, 2011 at 10:28am

      Sad that when we have such inflation, the housing market is still crashing. Oh, wait, we don’t have any inflation problem…

      Report Post »  
    • Watchingtheweasels
      Posted on May 11, 2011 at 2:52pm

      State ownership of housing is generally a good thing for Marxists. Those in the Obama administration with Marxist leanings are no doubt glad to see America move towards a rent-based society where most people do not have the ability to buy a home.

      Report Post »  
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