As 2011 comes to a close, Zillow anticipates home value declines for the year will total more than $ 681 billion. The rate of value decline, however, is slowing, according to Zillow. The $ 681 billion decline this year is 35 percent less than last year’s $ 1.1 trillion drop in value. Additionally, much of this year’s decline occurred during the first half of the year. Values declined $ 454 billion in the first six months of 2011, and by the end of the second half of the year, values are expected to wan another $ 227 billion.
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