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Map: What Part of Town Had the Most Increase in Home Values?

Nationally, home values have significantly increased this year, but experts say growth is likely to slow down in 2014. The map below shows a snapshot of the percentage of homes that increased in value across town.

Credit: walnutcreek.patch.com
Credit: walnutcreek.patch.com

Newscruncher is a daily series that breaks down the characteristics of your town by the numbers. You can see more posts by clicking the Newscruncher link above the headline or by checking out our weekend roundups. If you see any technical issues with this map (like an "N/A" value on an important part of town), or if you'd like to suggest ideas for future Newscruncher articles, please email data@patch.com.

The map above shows a snapshot of the percentage of homes across town that increased in value from Oct. 2012 to Oct. 2013.

Home values nationally rose rapidly by 5 percent this year. In fact, in some areas of the country, values increased by more than a 20 percent.

In the map above, you can hover over any area of town and see in the box in the upper right hand corner of the map the percentage of homes with increased values there. 

Experts say the national picture may change next year.

Factors like higher mortgage rates and growing supply --  due to fewer homeowners underwater and more new construction projects -- are helping to slow down the increases nationwide.

According to Zillow, home value gains will likely only increase by 3 percent nationwide in 2014.

"For buyers, this is welcome news, especially for those in markets where bidding wars were becoming the norm and bubble-like conditions were starting to emerge," said Dr. Stan Humphries, Zillow chief economist.

The data in this map are from Zillow, a real estate Web site and a Patch partner.

What do you think explains the percentage of homes that increased in value across town? Tell us in a comment or a blog post.

BigEye December 16, 2013 at 12:45 PM
Of the house with increased value, what percentage of these homes have camel crickets?
Helen Esposito December 17, 2013 at 12:31 PM
As a Realtor, I saw stronger real estate prices this past year. Reasonable interest rates, limited inventories of homes for sale, and, of course, buyer confidence were all factors in market improvements. Many buyers had been sidelined in recent years, waiting out a weak economy and job insecurity. As the economy slowly improved, buyers became more confident and came out in droves, ready to buy this year. We even saw sales above asking price for well maintained homes. Unfortunately we still have a low inventory of homes for sale. Sellers who have been waiting for market improvements should take advantage of the pent-up demand and put their houses on the market in the coming months. - Helen Trimes Esposito

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