House Prices: When Will 2006 Values Return?
Posted by Bill Mann on
There is a lot of optimism regarding house prices. The most recent Home Price Expectation Survey projects a 3% — 3.5% increase in values for each of the next 5 years. We concur that most parts of the country will see varying levels of appreciation over that time. However, we must realize that we will not see 2006 values any time soon.
Barclays’ U.S. residential credit strategy team recently predicted that 2006 values would return in 2021. From an article in DSNews:
“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.
At that…
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