US home owners generally underestimate the value of their properties, research shows

[Nicholas Wallwork]

Confidence in the US real estate market is mixed across the country with some areas having*inflated expectations of property values and others underestimating prices, a new report shows.

Nationally only 50% of home owners thought their property value decreased during the past year*when in reality 65% of US real estate lost value, says the report from Zillow on the first quarter*of the year. It also found that 23% of homeowners said they believe their home's value was*stagnant, compared with Zillow data that showed only 7% of homes did not experience a change in*value.

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