Housing Prices Hitting Bottom
Economists have finally put their two cents in and have declared they agree that housing prices have indeed hit bottom.
Over the last three years, housing prices have been volatile. There is a loose pattern of home prices rising… rising all spring and summer and then dropping off in the fall and winter, but this year is predicted to be different. There is no foreseeable drop to come as the seasons shift.
While the fall months likely will bring out some sort of decrease in recent home price increases, “we have a much better supply and demand dynamic” than in previous years, Mark Fleming, CoreLogic’s chief economist, told The Wall Street Journal.
Better yet, home prices are boasting their largest jump this year as compared to the last six years. Even on a micro scale, comparing today’s prices with that of this February, they have risen 9.6%.
ALL VERY GOOD NEWS. Please comment and share the predictions of the market in your area.
Source: “Here’s More Evidence That Home Prices Have Hit Bottom,” The Wall Street Journal (Sept. 4, 2012)