I Zillow’d a house in my community today to see the 10 year history. Since 1998 the house is up 123% and the zip code is up 190%. Now I know things have gotten silly but even if it loses 50% of it’s peak of 900k (I know it’s a Zestimate but whatever) 450k would be a 50% gain from 1998 (which seems to be reasonably near the bottom of the last cycle). Is this normal for a fairly desirable community in SoCal? And if so, is this a sign of long term macro health of the area?
Here’s the link: http://www.zillow.com/HomeDetails.htm?zprop=17929826
.
