What do the numbers in the right hand column represent? And when you say “risk of loss” is 9% somewhere, what does that mean?
From 1979 on, the "periods" are rolling five-year increments, which means 1979-1984, then 1980-1985, 1981-1986, etc.
In each of those periods, they calculated the likelihood of loss (aggregate for the area) on a house sale. So, "9% risk of loss in Raleigh" means that the average sale was at a loss in 9% of the periods.
It's just a snapshot stat. You and I might own similar houses side-by-side, but I bought mine in 1970 and you bought yours in 2012. I have a better chance of selling mine for a gain, today, than you do!
>> What do the numbers in the right hand column represent? And when you say “risk of loss” is 9% somewhere, what does that mean?
They’re “Zillow numbers”. Zillow numbers don’t mean squat.