May 2, 2018 - How do we track home values? To track home values, we use the Zillow. Home Value Index (ZHVI). The ZHVI is
JUNE2018
Pittsburgh Metro
National Home Values Current: $217,300 Monthly Change: 0.5% Quarterly Change: 1.8% Annual Change: 8.3% Negative Equity*: 9.1% Pittsburgh Home Current: Monthly Change: Quarterly Change: Annual Change: Negative Equity*:
Values $141,300 0.5% 1.8% 7.9% 9.6%
Home Values Forecast (next 12 months)
National: Pittsburgh Metro:
6.6% 4.6%
Esri, HERE, Garmin, © OpenStreetMap contributors, and the GIS user community
City ZHVI Year-over-Year
Major Cities - Home Values Pittsburgh Current: Monthly Change: Annual Change:
$144,500 0.7% 15.6%
Hempfield Current: Monthly Change: Annual Change:
$140,400 0.9% 5.5%
Penn Hills Current: Monthly Change: Annual Change:
$89,900 1.4% 12%
North Huntingdon Current: $156,100 Monthly Change: 1.4% Annual Change: 10.5% Ross Current: Monthly Change: Annual Change:
$185,800 0.6% 5.9%
-17.5%
-17.4% - -4.8% -4.7% - -2.4% -2.3% - -0.4%
Home Values (ZHVI) Increasing Values: Decreasing Values: Fall From Peak: Peak ZHVI Date: Peak ZHVI: Sales Median Sale Price: Monthly Change: Annual Change: Sale Price/Sq. Ft.: Sale-to-list Price Ratio: Sold for a Loss/Gain: Foreclosures Homes Foreclosed: Monthly Change: Annual Change: Foreclosure Resales: Monthly Change: Annual Change:
0.2% - 4.4%
4.5% - 7.8%
7.9% - 12.2%
12.3% - 19.1% 19.2% - 26.6%
68.3% 24.9% 0% 2018-06 $141,300
Rent Zillow Rent Index: Monthly Change: Annual Change: Rent List Price: Rent List/Sq. Ft.:
$129,300 –% –% $– – –%/–%
Listings Median List Price: Monthly Change: Annual Change: List Price/Sq. Ft.: Listings with Price Cut: Amount of Price Cut:
1.19/10, 000 – – 0% –pp –pp
* Negative equity data is from 2017Q4. www.zillow.com/research/
$1,082 0.3% 0.8% $1,200 $1
$180,000 –% –% $124 16.9% 3.7%
How do we track home values? To track home values, we use the Zillow Home Value Index (ZHVI). The ZHVI is the mid-point of estimated home values for the area. Half the estimated home values are above this number and half are below.
JUNE2018
2018-06 2018-06 2018-05 2018-06 2018-06 2018-06
0 0 -0.3 0 0 0
257,000 140,400 230,200 156,100 180,700 89,900 144,500 155,200 185,800 185,000 141,400 308,900 366,800
0.3 0.6 0.2 1.4 0.1 1.4 0.7 1.3 0.6 0.6 -0.1 0.4 0.4
1.8 1.7 0.5 4.4 0.4 4.1 2.8 2.7 1.7 2.3 -0.2 1.2 2.5
7.6 6 4.2 10.5 3.9 12 15.6 7.2 5.9 9.3 -0.4 5.9 9.6
257,000 140,400 230,200 156,100 180,700 89,900 144,500 155,200 185,800 185,000 142,900 308,900 366,800
2018-06 2018-06 2018-06 2018-06 2018-06 2018-06 2018-06 2018-06 2018-06 2018-06 2017-09 2018-06 2018-06
0 0 0 0 0 0 0 0 0 0 -1 0 0
1,091 1,401 956
0.3 0.8 -0.2
1.5 4.1 -0.1
-2.7 -4 -8.1
1,598 1,018 758 1,610 1,167
0.5 0.1 -0.3 0.8 0.3
3 0.9 -1.2 4.3 1
-3 12.5 1.1 -3.4 -2.5
1,040 1,124 949 1,135 1,190 1,312 1,292
0 0.5 0 0.4 0.1 0.2 0
1.4 1.8 0 2.3 0.8 0.8 0.7
6.4 9.4 0.6 1 -2.9 -2 -1.1
2,053 2,275
-1.2 0.9
-3.3 2.6
-6.7 -1.5
7.5 5.9 1.1 3.3 5.1 4.7 2.9 4.4 2 3.7 2.8 7 9 7 6.3 5.6 3.8 2.8 3.6
Negative Equity (%)
Change from Peak (%)
136,400 194,300 159,600 305,600 260,800 140,400
Forecast YoY (%)
Peak Month
8.4 5.5 2.9 4.1 8.9 5.5
ZRI YoY (%)
ZHVI Peak ($)
0.3 1.5 0.3 2.3 1.5 2.4
ZRI QoQ (%)
ZHVI YoY (%)
0.2 0.6 -0.3 0.4 0.3 0.9
ZRI MoM (%)
ZHVI QoQ (%)
136,400 194,300 159,200 305,600 260,800 140,400
Rents- ZRI ($)
ZHVI MoM (%)
Baldwin Bethel Park Butler Cranberry Hampton Hempfield McKeesport Mccandless Monroeville Murrysville North Huntingdon Penn Penn Hills Pittsburgh Plum Ross Shaler Unity Upper Saint Clair Wexford
Home Values- ZHVI ($)
Largest Cities Covered by Zillow
3.4 13.5 4.9 2.5 19.5 29.7 7.8 8.4 8.4 10.8 11.6 8.6 5.7 3.7 4.6 14.8 3.9 4
2018-06 2018-06 2018-06 2017-04 2018-06 2018-06
0.0 0.0 0.0 -1.9 0.0 0.0
1,140
0
0.7
-0.8
1,091 902
-0.2 0.4
2.9 1.8
4.6 -0.9
932
0
-0.2
6.4
Negative Equity (%)
Change from Peak (%)
149,900 97,300 146,900 88,700 139,300 126,100
Forecast YoY (%)
Peak Month
10.4 6.8 10.5 7.9 3 2.6
ZRI YoY (%)
ZHVI Peak ($)
2.1 2.1 2 1.4 1 0.9
ZRI QoQ (%)
ZHVI YoY (%)
0.6 0.5 0.8 0.9 0.4 0.4
ZRI MoM (%)
ZHVI QoQ (%)
149,900 97,300 146,900 87,000 139,300 126,100
Rents- ZRI ($)
ZHVI MoM (%)
Allegheny Armstrong Beaver Fayette Washington Westmoreland
Home Values- ZHVI ($)
Largest Counties Covered by Zillow
6.1 4 4.2 14.2 5.4 3.1
7.7 12.4 9.6 11.3 11.3 14.5
*The top 20 largest cities and top 10 (or all) counties within the metro are listed. Additional counties, cities, neighborhoods and ZIP codes may be available online at www.zillow.com/research/data by emailing
[email protected]
Zillow Research:
Zillow R is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), and headquartered in Seattle.
www.zillow.com/research/
