Almost one in four U.S. home sellers who sold their property in the past year lost money on the deal, a new report from Zillow shows, while...
NEW YORK — Almost one in four U.S. home sellers who sold their property in the past year lost money on the deal, a new report from Zillow shows, while foreclosures made up 15 percent of all sales.
Nationwide, nearly 24 percent of homes sold at a loss, the real-estate information company said in its second-quarter real estate market report, released today.
But in the Seattle area — defined as the Seattle-Bellevue-Everett metropolitan statistical area — both percentages were much lower.
In the past 12 months, 11.1 percent of Seattle-area homes were sold at a loss, and 5.5 percent of all area sales were foreclosures, the report shows.
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It also showed that in parts of California, more than three of five homes sold for a loss, and half of all sales were foreclosures.
Despite gloomy housing headlines and dismal data, homeowners nationwide remain oddly optimistic about the value of their homes, a separate Zillow survey found. Sixty-two percent think their home value increased or stayed the same in the past year and three-fourths expect their home value to increase or stay the same in the next six months.
By all measures, home prices have fallen nationally in the past year with the states that saw the biggest run-up in prices during the boom — California, Nevada, Florida and Arizona — now posting the sharpest declines.