Thursday, December 22, 2011 / by Raul Pineyro
As bad as that is, it was more than four times worse in 2010, when homes and condos across Palm Beach, Broward and Miami-Dade counties lost $28.6 billion in value.
Nationally, U.S. properties are on pace to lose $681 billion in value, down 35 percent from 2010.
“While homeowners suffered through another year of steep losses, the good news is that homes are losing value at a substantially slower pace as the market works its way (to) the bottom,” Zillow Chief Economist Stan Humphries said in a statement.
Just nine of 128 markets showed gains in home values during 2011, Zillow said. Metro New Orleans led the way with $3.5 billion in gains. Pittsburgh was second ($2.7 billion).