Zillow announced the results of the December 2011 Zillow Home Price Expectations Survey. Each quarter, an expert panel of more than 100 leading economists shares its views regarding expectations for future home prices in the United States. Although projecting some price softening in national markets during 2012, the end of the housing recession appears within sight.
This quarter, the consensus among the panel is that U.S. home values will continue to fall until late 2012 or early 2013. After 2013,forecasts call for a relatively steady annual appreciation rate of around three percent through 2016, which is still slightly below appreciation rates experienced during the bubble years.
While the panel agrees the market hasnt reach bottom yet,the good news is thatweappear to becloserto the end of the recessionthan the beginning.
For additional analysis on the survey resultsfrom Zillow Chief Economist Dr. Stan Humphries visit theZillow Real Estate Research page.
As noted in the market reports I have posted below for the Palos Verdes Peninsula, however, the local markets appear to have stabilized and I believe are primed to begin a slow but steady increase over the next several years.
For more information about Palos Verdes and South Bay Real Estate and buying and sellinga homeon the Palos Verdes Peninsula, visit my website at https://www.maureenmegowan.com. I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula.I would love to hear your comments or suggestions.
