10 Real Estate Market Predictions for 2011

By Doherty • March 12th, 2011
Plot of U.S. home prices, population, building...

Image via Wikipedia

Relief is on the horizon, but it seems that it’s not around the corner yet. Real estate market is still flat because Real Estate in Charlotte NC prices are still up and down. Although recovery is in sight, it’s out of reach this year as experts predicted. So, are you battered by negative equity from the past years? Here are 10 housing market predictions this year that allow you to look inside that bag of optimism for relief and recovery.

1. Case-Shiller Home Price Index – Further 7.1% drop in home prices into the second quarter of 2011.

2. RealtyTrac (Rick Sharga) – Foreclosure filings will climb by around 20% in 2011.

3. Mortgage Bankers Association (MBA) – In 2011, the average interest rate on 30-year fixed-rate mortgages will reach 5.3%, and the number of refinance loans might drop by as much as 66 percent while home purchase loans will rise.

4. University of Chicago (Economics Professor Casey Mulligan) – Home values for Pearland TX Real Estate, for instance, will be significantly different this year than they were in 2010.

5. Wells Fargo Securities (Senior Economist Mark Vitner) – Foreclosure will continue to push home prices down which puts housing in the water all through the middle of 2011.

6. US Federal Reserve committee – In 2011, Housing market will weaken further (further price declines) due to the low demand and high inventory of foreclosed homes.

7. Trulia.com (Chief Executive Pete Flint) – Housing demand in 2011 will reduce because of the rising mortgage. Homes prices will decline between 5-7% in the first half of the year.

8. Fannie Mae – 2011 will be a sluggish year for the housing market.

9. Moody’s Analytics (Chief Economist Mark Zandi) – Home prices will decline. An 8% drop in home prices has been predicted through the third quarter of 2011 which can result to a 34% drop in home values.

10. Zillow (Chief Economist Stan Humpries) – Housing market will hit the bottom in the third quarter of 2011 and it’s going to take time before a quick rebound.

10 credible experts have spoken. As much as they would like to say something positive about the real estate market this year that the US economy will recover, it wouldn’t actually do some good to anyone, right? Doing so would be just making a fool out of ourselves because lying would just make matters worse. But as Professor Mulligan (The University of Chicago) said, “Predicting the future is difficult,” so prepare Beaverton Oregon Homes with these market predictions.

Enhanced by Zemanta
 

Leave a Comment

*

This blog is kept spam free by WP-SpamFree.

« | Home | »