Fiserv’s chief economist, David Stiff has some good news about the housing market: he says that the bottom is near. Median prices will be down early 2014 at 32.9% from the 2006 peak. In fact, according to the Fiserv Case-Shiller Indexes, US home prices have declined 29.5% over the past four years. So, it seems that the strain and the tension bought by the housing market rebound, the expiration of the buyer tax credit, the weakened consumer confidence, and the lackluster employment will soon be over.
Basing on the indexes, we will be expecting US home prices to climb some 7.2% from 2010 levels. The following list is based on Fiserv and Moody’s Economy.com’s housing forecast. It shows that the Bremerton-Silverdale area in Washington State will be leading the way with an expected highest four-year growth forecast of 44.7% from 2010 to 2014. Bad news for Miami and Naples in Florida, and Atlantic City in New Jersey, though. These markets have the weakest projections and are expected to continue to fall for the next four years.
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