Some Housing Analysts Predict Declines in 2010
October 22, 2009
Source: Les Christie, CNNMoney.com
A new housing price forecast predicts that home values will drop an average of 11.3 percent in 342 out of 381 markets by June 30, 2010.
Financial information and analysis firm Fiserv also predict that prices will stabilize and rise 3.6 percent in 2011.
Mark Zandi, chief economist with Moody's Economy.com, agrees with Fiserv. "I think more price declines are coming because the foreclosure crisis is not over," he says.
Fiserv called Miami the biggest loser, predicting a decline of 29.9 percent by next June. It also predicts large declines in Orlando, Las Vegas, and Phoenix.