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Home values steady in November

Zillow's Home Value Index recently revealed that home values remained steady in November.

Zillow's Home Value Index recently revealed that home values remained steady in November.

According to the recently released Zillow Home Value Index, home values in the United States remained steady in November.

Home values decreased 0.1 percent in November when compared with October and decreased 4.6 percent compared with November 2010 to $147,800.

Home values in the country remained consistent in 60 percent of the 165 housing markets that Zillow covers, compared with 24 percent last year.

"Overall, we are seeing encouraging signs in housing data such as sequential months of slowing depreciation rates, stabilizing markets and organic improvement in value trends, largely in the absence of government policy intervention," said Zillow Chief Economist Dr. Stan Humphries. "However, we're not out of the woods yet. Supply and demand are still not in balance in many markets and we do expect higher foreclosure liquidation rates near-term, which will put additional downward pressure on home values."

Metropolitan areas that reported flat or increased home values were Los Angeles; Washington, D.C.; Miami-Ft. Lauderdale, Florida; San Francisco and Detroit.

The U.S. Department of Housing and Urban Development also recently released its December housing scorecard, which showed improvements in the market over the past year.

With relocation cost being less expensive than it has in the past, Americans may look at the current state of the housing market as a perfect time to receive moving quotes to move to their dream homes.