Further Home Price Drops Expected

by IBH Staff Writer 20. October 2009 14:09
More price drops are expected as home values are predicted to drop in 342 out of 381 markets during the next year, according to a forecast of real estate prices by Fiserv, a financial information and analysis company.

The national median home price is predicted to fall 11.3 percent by June 30, 2010 according to Fiserv and anticipates some stabilization with prices rising 3.6 percent in the following year.

It is anticipated that the areas with high number of foreclosures will experience the steepest drops, particularly Miami where prices are predicted to further fall 29.9 percent by next June. The real median home price in the area will tumble to $142,000 by June 2011.

The second-worst performing market is Orlando, Florida where Fiserv anticipates a 27 percent price by June 2010.

A handful of metro areas will not experience the trend in six markets as prices will remain flat while 33 will actually post gains.

Digg It!DZone It!StumbleUponTechnoratiRedditDel.icio.usNewsVineFurlBlinkList

Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5

Tags: , ,

Comments are closed

Powered by BlogEngine.NET 1.4.5.0
Theme by Mads Kristensen