What Your Home Will Be Worth in 2012
A recent story in Businessweek, with information from the Brookfield, Wisc.-based research firm Fiserv, to predicted the value of median priced homes in the U.S. in 2012. The article stated: “We weighed historical data against current trends to get a bead on which way the markets might jump at one-year increments. By combining data, we were able to get a pretty good idea of what home prices would be in three years’ time. Across the board, real estate prices will continue to drop before rising slightly by the fourth quarter of 2011.”
Promotions Unlimited took the Businessweek predictions and produced the chart below for California and five other western states:
Home Values 2012
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The housing market peaked around 2005-2006. A lot of 5-year fixed interest-only loans will reset in 2010-2011. That means more foreclosures in the future. Hopefully we can see recovery in late 2011, as is predicted above.
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