Economists Expect Further Home Price Declines in 2012, But Stability is on the Horizon
Today, Zillow announced the results of the December 2011 Zillow Home Price Expectations Survey. Each quarter, an expert panel of more than 100 leading economists shares its views regarding expectations for future home prices in the United States.
This quarter, the consensus among the panel is that U.S. home values will continue to fall until late 2012 or early 2013. After 2013, forecasts call for a relatively steady annual appreciation rate of around three percent through 2016, which is still slightly below appreciation rates experienced during the bubble years.
While the panel agrees the market hasn’t reach bottom yet, the good news is that we appear to be closer to the end of the recession than the beginning.
To see the results from past surveys, visit Pulsenomics, the independent research and consulting firm that produces the survey on behalf of Zillow.
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