The Sacramento region's cumulative home values rose by $14.8 billion in 2012, with an additional 10 percent increase projected in 2013, online real estate tracker Zillow said in a report issued today.
The latest figures are based on the region's estimated cumulative property value of nearly $181 billion at the end of this year compared with the total at the end of 2011, Zillow said in a news release.
Across the nation, home values rose by $1.3 trillion during 2012, Zillow said. Of 30 major cities, only Philadelphia experienced a cumulative decline this year. The cities with the largest gains in 2012 were Los Angeles ($122.1 billion), San Francisco ($93.3 billion) and San Jose ($54.7 billion).
The gain in total housing values is the first yearly increase since 2006, the Seattle-based firm said. Cumulative values fell each year from 2007 to 2011, with the biggest drop of $3.2 trillion occurring in 2008, according to Zillow.
Zillow chief economist Stan Humphries said he expects values to continue improving next year. The company projects Sacramento home prices will rise by 10.1 percent from November 2012 to November 2013.
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