The Edmond Sun

Local News

July 25, 2012

Home values finally going up, Zillow says

The last several months have brought mostly encouraging news from the housing front, suggesting that the long-awaiting recovery was just around the corner. Zillow, the real estate site, says it's finally arrived.

The Zillow Home Value Index (ZHVI) rose in the second quarter on an annual basis for the first time since 2007 -- increasing 0.2 percent year-over-year to $149,300. Home values have now risen for four consecutive months.

Nearly one-third of metros, or 53 of the 167 covered by the Real Estate Market Reports, posted annual increases in home values. The largest increase was in Phoenix where home values are up 12.1 percent from the second quarter of 2011 to the second quarter of 2012. Phoenix was one of the hardest hit cities in the housing collapse.

Continuing trend?

Zillow predicts the trend will continue. Two in five, or 67 of the 156 markets covered by the Zillow Home Value Forecast, are expected to see increases in home values over the next year, with the largest increases expected in the Phoenix and Miami metros. U.S. home values are expected to rise 1.1 percent.

"After four months with rising home values and increasingly positive forecast data, it seems clear that the country has hit a bottom in home values," said Zillow Chief Economist Dr. Stan Humphries. "The housing recovery is holding together despite lower-than-expected job growth, indicating that it has some organic strength of its own.”

Fewer homes on the market

What's behind the recovery? For one thing, the National Association of Realtors has reported a sharp decline in the number of homes for sale over the last couple of months. With fewer homes for sale, buyers have less leverage to force down prices.

There has been a drop in the number of distressed properties on the market, though Humphries says that can quickly change.

Text Only
Local News
  • Edmond soldier settles in housing benefits case

    U.S. Attorney Sanford C. Coats said Thursday a U.S. Army reserve soldier from Edmond has agreed to pay the government $20,000 to settle civil claims related to obtaining fraudulent housing benefits.

    April 17, 2014

  • Stevenson 1 Oklahoman returns home focused on pro-gay agenda

    Troy Stevenson remembers the day when football players discovered him and his boyfriend holding hands behind an Edmond high school. After they had been chased off school property, Stevenson, called to check on his boyfriend.
    “He was in hysterics,” Stevenson said. “… Like me, I thought he was scared. Did people see us? What would people think?”

    April 17, 2014 2 Photos

  • Lawn Experts’ tips can help your lawn bounce back

    Chances are your lawn is looking a bit bedraggled after this rough winter.
    That’s not surprising. Between brutally cold temperatures and drying winds, turf took a beating this year.

    April 17, 2014 1 Photo

  • Gracelawn grows larger

    The Edmond City Council voted 5-0 in favor of the city purchasing 20.5 acres of land immediately to the north of Gracelawn Cemetery. Purchasing the property is needed for future expansion of the cemetery, Mayor Charles Lamb, said.
    Gracelawn Cemetery is owned and operated by the city and is located on the northwest corner of Danforth and Boulevard.

    April 17, 2014

  • Warmth needed to grow tomatoes

    The time for those growing tomatoes in their garden is when the soil temperature is above 60°F and fear of frost has past. We are generally safe from frosts after April 5.  However, frosts have occurred as late as May 1 in the Oklahoma City area. If you planted your tomatoes on or before April 5 last year you would have covered them several times as there were several late frosts. If you plant early, be ready to cover your plants during nighttime frosts.

    April 17, 2014

  • Debate Senate hopefuls meet in first debate

     Accountability to the American people and the $17.5 trillion debt continues to be a major issue in the race for U.S. Senate office being vacated by retiring U.S. Sen. Tom Coburn.
    The Oklahoma Conservative Political Action Committee hosted a debate Wednesday for three of the seven Republicans running for the U.S. Senate seat that is being vacated by retiring U.S. Sen. Tom Coburn.

    April 16, 2014 1 Photo

  • Oklahoma City FC invites fans to design club scarf

    Oklahoma’s top-tier soccer club, Oklahoma City FC, invites soccer fanatics across Oklahoma to be a part of its future by designing its scarf.
    Scarves are a tradition among soccer clubs and are typically a team’s most recognizable accessory. Scarves are a matter of pride for hard-core supporters and feature team colors, logo and inspiring slogans. Scarves are a part of a team’s identity.

    April 16, 2014

  • MS_injection well.jpg Agency clarifies earthquake-related misinformation

    A state agency says misinformation related to the debate about the cause of more earthquakes across Central Oklahoma includes oil well types, well numbers and injection pressure.
    The Prague sequence of 2011 along the Wilzetta Fault zone included a significant foreshock, a main shock of magnitude 5.7 and numerous aftershocks. It has been suggested that this sequence represents tremors triggered by fluid injection.
    More recently, earthquakes have been recorded in the vicinity of Jones, Arcadia Lake, Edmond, Guthrie, Langston and Crescent. Regulators and scientists are working together to better understand what’s causing all the shaking.

    April 16, 2014 1 Photo

  • Sheriff seeks items for agency history project

    If you have historic pictures or artifacts related to the Oklahoma County Sheriff’s Office, the agency is asking the public to share them.
    “The Oklahoma County Sheriff’s Office is working on a history project. If you, your family, friends or acquaintances have any old photos or artifacts related to the OCSO we would love to have them or a digital copy,” said Oklahoma County Sheriff John Whetsel.

    April 16, 2014

  • oil infographic[1].png Easy on the coconut oil

    These days, it seems like coconut oil is soaking up credit for its positive affect on a wide range of health conditions. But, still developing science around the popular oil tells a little different story.
    “We know all saturated fats are not created equally, but there’s no evidence that coconut oil is better or healthier than other vegetable oils,” said Janice Hermann, Oklahoma State University Cooperative Extension nutrition specialist.

    April 16, 2014 1 Photo

Featured Ads
NDN Video
Man Accuses 'X-Men' Director Bryan Singer of Sexually Abusing Him As a Teenager Lea Michele & Naya Rivera Feuding? Don't Be A Tattletale: Bad Bullying Tips For Students Jabari Parker declares for the NBA draft Singing Nun Belts Out Cyndi Lauper Swim Daily, Throwback Thursday The trillest thoughts on marijuana "RHOA" Star Charged With Battery Grizzly Bears Get Snowy Birthday Party Weatherman draws forecast when another technical glitch strikes WGN Elizabeth Olsen's Sexy Shoot Bay Area Teen Gets Prom Date With Help From 'Breaking Bad' Star Boston Bomb Scare Defendant Appears in Court Behind The Tanlines Jersey Strong Part 1 WATCH: Women Fight To Marry Prince Harry! Jenny McCarthy Engaged to "New Kid" Kate and Will Land in Oz O’Reilly Launches Preemptive Strike Against CBS Pixar Unveils Easter Eggs From its Biggest Movies Baby Sloths Squeak for Their Cuddle Partners in Adorable Video
Poll

Do you agree with a state budget proposal that takes some funds away from road and bridge projects to ramp up education funding by $29.85 million per year until schools are receiving $600 million more a year than they are now? In years in which 1 percent revenue growth does not occur in the general fund, the transfer would not take place.

Agree
Disagree
Undecided
     View Results