will housing value drop more in 2012?

Asked by virginia lewellen, Queen Creek, AZ Sat May 19, 2012

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Karen Berg, Agent, Queen Creek, AZ
Sat May 19, 2012
Hi Virginia,
In the Queen Creek area, housing values have been rising, not dropping! So. although none of us, including me, has a crystal ball, they are not likely to drop in 2012.
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Ron Thomas, Agent, Fresno, CA
Sat May 19, 2012
Understand that the Housing Market is not a single house, 3/2, 1546 sqft on a 6500 sqft lot.
The Market is many, many houses, all over the country, some small, some large, some grandious, some ramshackle, many depressed.

Some houses will go down in value because people don't like the house or the location.
Some houses will go up in value, because more than one person will want to buy it.

The only purpose that the AVERAGE serves is to compare with previous periods to see whether we are moving up or down; and we are always moving UP or DOWN, there is no plateau.

Some areas and cities have forces which are lifting it UP in employment, optimism and desirablility.
Some areas have things going on to keep it depressed.
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