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Zillow: The Housing Market Just Had Its Worst Quarter Since 2008

A new survey from Zillow shows that the US just had its worst quarter for home sales since 2008. Some key datapoints: Nearly 75% of homes in the US lost value from Q1 2010 to Q1 2011. That's up from 69% the quarter before. Negative equity hit a brand new high of 28.4%. Foreclosure re-sales hit a brand new high, representing 23.7%. Meanwhile, the supply of distressed home continues to be massive. 2 million homes are in the foreclosure process, with another 1.5 million seriously delinquent.

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