Home Prices: Yet to Hit Bottom?
Market analytics firm Fiserv has adjusted its home price forecast for the period between June 30, 2010 and June 30, 2011, predicting a drop of 7.1 percent. In February it was predicting a 4 percent increase through the end of 2011.
Mark Zandi, chief economist for Moody's Analytics is predicting an 8 percent drop through the third quarter of 2011. And things won't improve much in 2012: Zandi says prices won't rise until people start buying homes in higher numbers, something that is unlikely to happen as unemployment figures remain high.
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