Zillow estimates tanking. Investors taking $150,000 write downs on houses. May’s housing inventory surge to 481,000 echoes 2008 peak
Investors are now selling at a loss in Florida’s Housing Market, with the Zillow Value estimates on some listings collapsing as much as 30%. Indeed, the seasonally-adjusted estimate of new houses for sale at the end of May was 481,000, marking the highest level since January 2008. This surge in inventory is a result of rising …