A new survey from Zillow shows that the US just had its worst quarter for home sales since 2008.
Some key datapoints:
- Nearly 75% of homes in the US lost value from Q1 2010 to Q1 2011. That’s up from 69% the quarter before.
- Negative equity hit a brand new high of 28.4%.
- Foreclosure re-sales hit a brand new high, representing 23.7%.
- Meanwhile, the supply of distressed home continues to be massive. 2 million homes are in the foreclosure process, with another 1.5 million seriously delinquent.
Here are a couple of charts from the report:
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