EconoMeter: Will home prices rise or fall in 2011?
Roger Showley, SAN DIEGO UNION-TRIBUNE
Sunday, January 23, 2011
Kelly Cunningham, National University System
Yes - $345,000
Prices will be higher by December 2011. The problem with averages and/or medians is they represent the middle most range and not necessarily every home price. As always, there will be considerable variance among specific markets. Many foreclosed properties are still to be released keeping prices subdued. On the other hand, perceived bargain prices and continued low interest rates encourage buyers, although more stringent mortgage guidelines limit activity. Slowly improving job numbers and slightly better economic outlook contribute to higher sales prospects. Hazarding a guesstimate, the overall median will slightly rise 3.6 percent to $345,000 by year end.