Wednesday, September 21, 2011

Five years after peak, still no bottom seen in housing market

Although some local real estate markets are stable or strong, more broadly, fundamentals in the U.S. housing market remain very weak, despite record-low interest rates, according to the results of the September 2011 home price expectations survey, issued by financial technology company MacroMarkets LLC.
The report, compiled from 111 responses of a diverse group of economists and other experts, found that home prices are expected to grow at a mere 1.1 percent nominal average annual rate through 2015. The findings are based upon the projected path of the S&P/Case-Shiller U.S. National Home Price Index over the coming five years.
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