U.S. Annual Home Value Hits 6% Appreciation Since 2006

Good news hit the real estate market today as reports from Zillow state that home values reach 6% this July 2013, being the highest annual appreciation value since 2006. An increase of .04% from June to July brought a home median value to $161,600. This monthly increase also reports to be the 14th straight month that rates have gone nowhere but up in value and appreciation.According to Dr. Stan Humphries, Chief Executive of Zillow, "After three straight months of annual home value appreciation above 5 percent, the U.S. housing market recovery has proven it is on very sound footing.” He also mentions, “We have entered a new phase in the recovery when we can begin to turn away from ugly recent history and turn toward what the housing market of the future will look like and how it will act.”(source: Zillow