Santa Clara County home values may be stabilizing
Santa Clara, California - Offering another indication that the worst of the housing market crash may be over, a new report released today says the value of homes in Santa Clara County fell 10 percent in the third quarter compared with a year earlier, the smallest decline of any quarter this year.
The report from home valuation and real estate information company Zillow.com said the value of all homes in the county slipped 9.87 percent compared with the third quarter of 2008, to an estimated median value of $561,600. That compares with a nearly 17 percent decline in the second quarter from a year earlier, and an 18 percent slide in the first quarter.
The relatively good news in a housing market battered by plunging prices and foreclosures gave some real estate agents a sense the market may be stabilizing. Values actually rose a fraction — seven-tenths of a percent — between the second and third quarters of this year, the report noted.
Santa Clara County home values may be stabilizing
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