Home Values Up 6.7 Percent – NMP
Industry News

Home Values Up 6.7 Percent

Feb 22, 2018
Today's first-time homebuyer is older and more likely to be single than first-time homebuyers in the 1970s and 1980s, according to a new Zillow analysis

Home values rose 6.7 percent on a year-over-year basis in January to a median home value of $207,600, according to new data from Zillow. This represents the slowest home value increase since November 2016.
 
West Coast markets recorded the highest level of annual home value appreciation last month, most notably in San Jose with a 23 percent spike in home values and a median home value of $1.2 million. Zillow also reported nearly 10 percent fewer homes on the market than a year ago, even though new home starts were up by roughly seven percent over the past year
 
On the rental side of housing, median rent across the nation rose 2.6 percent since last January, to a median payment of $1,441 per month. Two California markets saw the greatest median rent increases: Sacramento rose just over 8 percent while Riverside saw a six percent year-over-year increase.
 
"The pace of home value appreciation we experienced during much of last year was not sustainable, and a slow glide path down to a more normal appreciation rate has been expected for some time," said Zillow Senior Economist Aaron Terrazas. "This slowdown is nothing to be overly concerned with—demand from home buyers remains very high, and inventory remains tight. New home construction is growing, providing some relief to buyers who can afford the generally high price point of new homes."
 
About the author
Phil Hall
Link copied
Published
Feb 22, 2018
Get the NMP Daily
People On The Move
Jonathan Warrick Takes Helm At dv01 As Founder Perry Rahbar Moves To Fitch Advisory Role

The structured-finance data provider’s first employee succeeds Rahbar following more than a decade with the company

Jonathan Warrick has been named head of dv01, succeeding founder Perry Rahbar in the top leadership role at the structured-finance data and analytics provider.Warrick, dv01’s first employee, most recently served as chief operating officer. Rahbar is transitioning to a strate...

Continue reading
Wholesale
UWM’s $2.05 Billion Capital Reset Doesn’t Erase Its Leverage

Fitch downgraded the wholesale giant after leverage reached 6.1x, saying the preferred investment changes UWM’s funding structure but does not immediately reduce its debt burden

United Wholesale Mortgage’s $2.05 billion capital reset may strengthen its liquidity and replace secured borrowings, but Fitch Ratings does not believe the transaction immediately reduces the wholesale lender’s debt burden.Fitch downgraded the long-term issuer default rating...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News
Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News
Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Industry News
Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Industry News
Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Industry News
Jul 02, 2026
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Industry News
Jul 02, 2026