Zillow's January Real Estate Market Report showed January 2013 to be the 15th consecutive month of home value appreciation. Values rose 0.7 percent from December to January and increased 6.2 percent compared with January 2012. That rate of annual appreciation was last seen in July 2006, before the peak of the housing bubble.
In 2012, almost 2 million homeowners were freed from negative equity. Zillow expects many of these homeowners to sell their properties, but that demand for housing will still outpace the supply. The research company predicts 3.3 percent appreciation by January 2013.
Rents appreciated 4.3 percent since the same time last year, and foreclosures dropped to a rate of 5.54 out of every 10,000 homes.
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