Home Prices Forecast to Make Slow Progress from Floor Reached in First Quarter

Posted by Bonnie Martin Designated Broker on Monday, October 22nd, 2012 at 7:45am.


dsnews.com - Home prices reached a sustainable bottom during the first quarter of this year, according to Barclays’ U.S. residential credit strategy team. In many markets, homes are trading close to replacement costs, and longer-term affordability measures point to equilibrium, the firm’s analysts contend.

While the floor appears to have materialized, they stress that home prices are likely to recover slowly over the next 4 to 5 years.

“We expect on average a 3-4 percent annual increase in home prices [nationally] in coming years,” they said in an updated market outlook.

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