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Home values rise 7%, Seattle leader in rising rents

Staff Writer | January 19, 2017
Home values rose 6.8 percent from last December, the fastest annual pace of the year.
Value of home   The Zillow Home Value Index is $193,800
The Zillow Home Value Index (ZHVI) is $193,800, just below the highest value set in April 2007, according to the December Zillow Real Estate Market Reportsii.

Home value appreciation slowed slightly in Portland, but remains the fastest in the nation, up 13.8 percent from last December. Tampa, Seattle and Dallas saw similarly high home value growth, with home values growing nearly 12 percent from a year ago.

Hot home values characterized 2016 all the way to the end – and they show no sign of slowing in 2017.

However, as the new year begins, flattening rents could take the heat off buyers who are struggling to find a home amid low inventory and give them more time to search for the right home.

Rent appreciation stabilized at 1.5 percent annual growth, less than half the pace rents were growing at last year. The median monthly rent payment in the U.S. is $1,403.

The fastest rent appreciation occurred along the West Coast. Seattle led the nation in rising rents, with rents growing 8.4 percent in December, followed by Portland and Sacramento.