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House Prices: Experts Becoming More Optimistic

October 1, 2012 By Leave a Comment

projectionsEach quarter, Pulsenomics surveys a

“distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 4-year expectations for future home prices in the United States.”

Here are the latest survey results.

Price appreciation/depreciation expected over the next four years:

  • 2012: 2.31%
  • 2013: 2.44%
  • 2014: 3.25%
  • 2015: 3.43%

Fiserv also released a report projecting home prices to appreciate at an average of 3.7% annually over the next five years.

The average pre-bubble (1987-1999) annual appreciation was 3.6%

source: THE KCM CREW

Filed Under: Blog, Housing Market, Real Estate Updates Tagged With: , , , ,

Experts Say Housing Prices Are About to Turn

June 27, 2012 By Leave a Comment

Home-and-MoneyEach quarter, Pulsenomics surveys a

“distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 5-year expectations for future home prices in the United States.”

Here are the results of their latest survey: Price appreciation/depreciation expected over the next five years:

2012:   -.4%
2013:   +1.3%
2014:   +2.6%
2015:   +3.2%
2016:   +3.5%

The average pre-bubble (1987-1999) annual appreciation was 3.6%

by THE KCM CREW

Filed Under: Blog, Economy, Real Estate, real estate financing Tagged With: ,

Have Home Prices Finally Reached Bottom?

March 23, 2012 By Leave a Comment

Target House“Prices are bottoming now,” according to a Bank of America Merrill Lynch forecast, released this week.

In the fall, the analysts had predicted home prices would drop by 8 percent from the second quarter of 2011 through the first quarter of 2013 — but now they’re revising that forecast, realizing the housing market is stabilizing faster than they originally thought.

The analysts now predict that prices will remain flat for the next two years, as the excess foreclosure inventory is absorbed. They then expect to see a pickup in home prices by 2014.

And in the long-term, they see a big rise in housing prices. From 2012 through 2020, analysts forecast a cumulative growth of 42 percent in home prices (at 4 percent on an annualized basis).

Source: “Home Prices ‘Bottoming Now,’ BofA Merrill Lynch Analysts Say,” HousingWire (March 22, 2012)

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Home Price Changes Across The Country

December 12, 2011 By Leave a Comment

decline

The graphic depicts pricing of all homes from their ‘peak through current declines’ as per Case Shiller. This index looks at prices in 20 major metropolitan areas. Keep in mind that for what is categorized as “Seattle” is comprised of Snohomish, King and Pierce Counties.

Each market peaked at different times. Therefore, the InfoGraphic doesn’t cover one segment of time. Here is a site where you can see when each market actually peaked:

http://www.housingviews.com/2011/11/29/how-the-cities-did-in-the-latest-release/how-cities-did-september-2011/

Filed Under: Economy, Real Estate, Real Estate Updates Tagged With: ,

Three Quarters of Owners Continue to Overvalue

December 7, 2011 By Leave a Comment

price is rightDespite survey after survey showing that consumers expect home prices to continue to decline next year, most home owners still believe their houses are worth more than what their agents recommend.

Nearly three out of four home owners, 76 percent, believe their homes are worth more than the recommended agent listing price. By contrast, 68 percent of home buyers believe homes are overpriced, according to the latest HomeGain. Thirty-two percent said homes are overpriced by more than 10 percent.

The gap between what sellers expect and what agents recommend has actually grown slightly over the past year even though national median prices have declined about 4-7 percent this year. A year ago, some 73 percent of owners thought their homes were worth more than their agent’s recommended listing price and 69 percent of buyers thought homes were overpriced.

“The market in the Syracuse, NY area is classified as a buyers market. Sellers are still not understanding the importance of proper pricing as most sellers properties are priced 5 to 10% over market value,” said one professional.

“Seller pricing is not necessarily the problem. The issue is making it possible for buyer candidates to buy a home. More buyers equal better quality offers. The credit system needs to be reinvented,” commented another.

Forty-two percent of real estate agents and brokers and 37 percent of homeowners think that home values will decrease in the coming six months. Only 15 percent of real estate professionals expect home values to increase in the next six months, up four percent from last quarter. Fifteen percent of home owners also expect home values to increase in the next six months, up three percent from last quarter.

“Home owners and real estate professionals appear to be in sync regarding the direction of home prices. Home buyers and sellers, however, continue to remain apart as to home valuations with the vast majority of home owners thinking their homes are worth more than their agents and the market are telling them,” said Louis Cammarosano, General Manager of HomeGain.

Over 400 real estate agents and brokers and over 2,000 home owners were surveyed in HomeGain’s nationwide fourth quarter 2011 home values survey.

For more information, visit www.realestateeconomywatch.com

Filed Under: Economy, Real Estate, Real Estate Updates Tagged With: ,