Home Appreciation Interpretation
Hello BP World,
Was doing some neighborhood research and noticed that the national, state and city 10yr average appreciation rate listed was negative. Meanwhile, the 5yr and 1yr rate were enticingly positive. See figures below.
What is the best way to read/interpret this? On average over the past 10 years, American homes have been depreciating; But home values have been rebounding in the last 5 years?
Newark Housing Information - Zillow
| Index | Newark | New Jersey | National |
| Zillow home value index | $209,700 | $292,900 | $188,100 |
| Year over year appreciation rate | 6.99% | 2.52% | 5.14% |
| 5 year average appreciation rate | 2.25% | 1.23% | 4.12% |
| 10 year average appreciation rate | -3.48% | -2.24% | -0.33% |
Thanks,
Candice