Ready to Get Started? Get a Free Rate Quote Now.

Even though the real estate market seems to be rebounding, home prices will likely drop in 2010, and even into 2011.

The average home price in the U.S. should drop by approximately 6 percent by 2011,  according to a new joint report from Fiserv and Moody’s Economy.com.  This on the heels of a 27 percent drop over the last 36 months.

The bulk of the predicted decline in values should take place over the summer months of 2010. After that, prices should begin to rebound, Fiserv says, and stay relatively steady through fall of 2011.

The main cause of the continued decline, according to Mark Zandi, economist and co-founder of Economy.com, is foreclosures (the same factor that’s been affecting the market for the last three years).

Related articles by Zemanta

• 10 Cities for Real Estate Steals (usnews.com)
• Commercial Real Estate: The Bad News Has Already Been Priced Into the Market (seekingalpha.com)

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.