Tuesday, August 9, 2011

Home price recovery slips out of sight

This article confirms that this summers very small bump in prices was just seasonal.  Also, with markets being so volatile and federal reducing it's subsidies it might put off some buyers.
As a result of continued weakness on the jobs front and the debt ceiling fiasco, Fiserv pushed back its projections of a housing market turnaround by three months. Now, it doesn't expect home prices to start gaining any ground until the second quarter of 2012.
Instead, Fiserv expects median home prices to continue to fall by an average of 3.1% between March 31 of this year and March 31, 2012. After that, it expects to see prices increase by 2.7% until the first quarter of 2013
Read it all

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