By Natalie Dolce | GlobeSt.
The bottom third of the housing market has grown increasingly competitive, with fewer price cuts on listed homes and faster growing home values than more expensive homes, according to the May Zillow Real Estate Market Reports. Home values for the most expensive homes on the market, which at one point in February 2014 were growing at an average of 7% annually, have stabilized, Zillow says. Those homes have been gaining value at about 4% each year since the beginning of 2015.
Home values at the bottom of the market continue to grow at about 8% a year, says the report.
