by nate on Tuesday, December 1st, 2009 | Business, News

A new report from Zillow.com finds home values stabilized in the third quarter of this year, as sales of new and existing homes grew.

“While 116 metropolitan areas experienced Q3 year-over-year declines in home values, only nine metropolitan areas saw accelerating year-over year home value declines,” according to the report.

Home prices have stabilized and in some regions begun to rise a bit, but foreclosures, unemployment and still weak consumer confidence are warning signals that they could dip yet again.

So with the real estate market on the mend, what are the country’s best performing zip codes this year?

1. Fayetteville, N.C. (28306)
Year-over-Year Price Growth: 20.6%
Zillow Home Value Index: $142,768

2. Philadelphia, Pa. (19145)
Year-over-Year Price Growth: 19.1%
Zillow Home Value Index: $144,558

3. Philadelphia, Pa. (19148)
Year-over-Year Price Growth: 16.9%
Zillow Home Value Index: $164,661

4. Cleveland, Ohio (44110)
Year-over-Year Price Growth: 16.7%
Zillow Home Value Index: $93,077

5. Atlanta, Ga. (30331)
Year-over-Year Price Growth: 16.3%
Zillow Home Value Index: $149,426

6. Rochester, N.Y. (14620)
Year-over-Year Price Growth: 16.3%
Zillow Home Value Index: $123,381

7. New Orleans, La. (70117)
Year-over-Year Price Growth: 16.3%
Zillow Home Value Index: $76,868

8. Newark, Ohio (43055)
Year-over-Year Price Growth: 16.2%
Zillow Home Value Index: $108,258

9. Piqua, Ohio (45356)
Year-over-Year Price Growth: 15.5%
Zillow Home Value Index: $97,162

10. Rochester, N.Y. (14621)
Year-over-Year Price Growth: 15.5%
Zillow Home Value Index: $52,867

read more

Tags: home, Home Values, hot investment, hottest area, house pricing, Mortgage, Real Estate, US economy, Zillow