Welcome!




Expand Your Education with These Courses from
A Consumer Advocate Approach to Real Estate & Mortgages: Courses 1 & 2.
Accredited Buyer’s Representative.
Territory Management: Skills for Sales Success: Part Eight.
Expand your education through NAR’s REALTOR® University: A Consumer Advocate Approach to Mortgages: Course 2.
A Consumer Advocate Approach to Real Estate: Course 1.

Experts Agree Prices Have Bottomed Out and Will Stay There

Have a comment on this article? Share on Facebook!

By Steve Cook

RISMEDIA, June 28, 2011—A significant majority of the 108 economists and experts participating in MacroMarkets’ June Price Home Expectations panel believe that the bottom for home prices arrived in the first quarter or will arrive sometime before year-end.

Despite persistent macroeconomic uncertainty and unprecedented housing market dysfunction, almost two-thirds of the panelists see the U.S. residential real estate market as at an historic turning point, says Robert Shiller, MacroMarkets co-founder and chief economist.

However, expectations for the pace of recovery fell. The group of 69 panelists who are currently forecasting a 2011 turning point predict less than two percent average annual growth in nominal home prices over the five-year period ending December 2015. The average expected cumulative home price change between Q4 2010 and Q4 2015 is just 5.71 percent, $1.2 trillion less in aggregate U.S. single-family housing wealth at the end of 2015 than projected just six months ago.

Terry Loebs, MacroMarkets managing director, confirmed that a wide variety of individual views continue to be expressed by the panel. Loebs says, “Looking at expected housing market performance through the five year period ending 2015, the most optimistic quartile of panelists projects 15.3 percent average price growth, while the most pessimistic quartile of panelists projects 6.0 price average price erosion from Q4 2010 levels. This spread is huge, representing almost $4 trillion in housing market value. This is a gut wrenching time for market stakeholders and policymakers, because each of these scenarios is plausible.”

For more information please visit www.realestateeconomywatch.com.

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com