Real Estate News Roundup: Home Values Soar; Student Rentals Struggle
They are up 0.7% from July to $256,663, the biggest month-over-month increase in nearly seven years, according to the August Zillow Real Estate Market Report.
Year over year, home values are up 5.1% in August, the largest annual rise since March 2019.
Markets with the highest year-over-year increases in home values were Phoenix (10.5%), San Jose (10.3%), and Seattle (9.2%).
The smallest year-over-year gains in home values among major metros were seen in Chicago (1.9%), New York (2.3%), and San Francisco (2.7%).
Year-over-year collection rates in public housing remain comparatively high.