Home Prices Finally Returning To NormalMar 13 2013
The latest forecast from Case-Shiller predicts home prices will increase by an average of 3.3% annually over the five years ending September, 2017, reports CNNMoney in a recent article.
From 1998 until the housing bubble peaked in 2006, home prices grew by 5% or more a year. But once the bubble burst, home prices plunged, falling 30.5% through the end of September 2012.
However, by the end of this year, Fiserv predicts that home prices will be heading higher in almost every metro area it tracks. Medford, Ore., is expected to gain 9.7% in the 12 months through September, the highest of any city. Other big gainers are expected to be Sante Fe, N.M., up 8.1%, Billings, Mont., 5.5% and Syracuse, N.Y., 5%.
To see the full article, click here.