Home Prices: Yet to Hit Bottom?


How low can they go? If you're talking about home prices, the answer is, probably about 8 percent lower.

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.

For more on home prices and related topics see these AOL Real Estateguides: