The bigger they are, the farther they fall. At least, that's the gist of the latest quarterly home value report issued by Zillow.com, the online real estate web site. According to Zillow's report, which was released Monday, housing prices have slipped some 2.8 percent year-over-year. However, large- to medium-sized homes experienced the steepest drop. Large single-family residencesódefined as having more than 1,900 square feetófell 3.1 percent, while medium-sized homesódefined as having between 1,200-1,900 square feetódipped 2.8 percent. By comparison, homes with less than 1,200 square feet of floor space declined by just 1 percent. The national average for a single-family dwelling, the report said, is 1,500 square feet. Zillow.com is headquartered in Seattle.
posted on Monday, August 13, 2007
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