Spokane Home Prices Fall 15% | Home & Garden

Zillow, the real estate information company, just released its latest figures.  It's not a pretty picture for the Spokane area, (unless, of course, you're a first-time homebuyer.) 

• Home values in the Spokane Metro area fell 14.2% from March, 2010 to March 2011.
• The average home value in the Spokane Metro is now $133,000, down from a high of about $188,000 in 2007.
• Within Spokane city limits, home prices fell 15.1% over the past year to an average of $111,000, down from $156,000 in 2007.
• Nationwide, Zillow now predicts home prices will fall about 8% this year, and that the market will not bottom out until 2012, at the earliest.

You can read a summary of Zillow's report at marketwatch.com.  To find specific information about your community, including your home's value, head over to zillow.com.  If you dare.