U.S. home value increases 0.9% in March

 

According to Zillow, a typical U.S. home value increased 0.9% last month, the highest since last June.   The Zillow Home Value Index has been declining for the past six months.  Zillow said the turnaround in home value is proof that the market conditions have improved and swung from a seller's market to a typical springtime seller's market.  Among the top 50 markets, New Orleans was the only one to see an MoM decrease of 0.1%, and Kansas City saw the highest gain of 1.6%.  Even San Francisco, which saw the biggest home value drop of 9.4%, registered a monthly growth of 1.3%.  New listings available for buyers is down 22.3% since last March and 20.2% lower than in March 2020.