According to Zillow’s latest Home Value Report, home values in Reno decreased 16.5% in the first quarter of 2008, compared to the first quarter of 2007. Nationally, single-family home values decreased 7.5% while condo values declined 9.0% during this same period. See map and download report. Zillow Reports 16.5% Decrease in Reno
According to Zillow’s latest Home Value Report, home values in Reno decreased 16.5% in the first quarter of 2008, compared to the first quarter of 2007. Nationally, single-family home values decreased 7.5% while condo values declined 9.0% during this same period. See map and download report. 
GreenNV
For all it’s problems. Zillow is pretty accurate on trends, so I am pretty much in agreement with their 16.5% decrease Y/Y. But what about the decreases over the preceding 2 years from our peak in mid 2005?
But of course, my house is special……
Joseph Ferrara.sellsius
The Zillow Report (Zindex) uses only zestimates as data points– not actual sales figures. So, if a recent sale was 500K and the reconfigured zestimate (factoring in the 500K) is $450, they count the 450K.
http://tinyurl.com/4d9rpa
Also, it is not a Home “Value” Report, it is a home “estimate” of value report. And as you know, a zestimate is a computer generated “estimate” of home value (no one visits the home). By Zillow’s own admission, it is a starting point. IMO, any report based on starting points can not rise any higher than that and certainly is not a report I would elevate to “authoritative.”
Just my opinion.