2011 Home Prices to Drop Below 2009 Values

What will 2011 home prices be?

This is the news that many homeowners have been dreading, yet it has seemed like it was inevitable.   Altos Research states, “home prices will continue to decline through the rest of 2010 and start 2011 slightly lower than 2009.

http://www.costar.com/webimages/hrecover.jpg

The primary reason that we will be seeing a drop is due to shadow inventory, these are due to the homes that will be in default in the coming months.   Because we can’t estimate the number of homes that are in shadow inventory, it is difficult to say when the housing market will begin to recover.   Let’s hope to see some growth soon!

Comments

5 Comments on "2011 Home Prices to Drop Below 2009 Values"

  1. Brad Yzermans on Sat, 21st Aug 2010 11:34 pm 

    I was reading the same info about home values continuing to drop into 2011. hard to believe when we still have multiple offers and latest stats show median home prices increasing. But with lending getting more difficult, I could see values dropping more.

  2. Staten Island Locksmith on Mon, 27th Sep 2010 12:17 am 

    Awesome post mike, it’s been a long-time since I’ve been on here. I see that nobody has lost their passion. Good to be back.

  3. weighty on Mon, 27th Sep 2010 1:46 am 

    gonna send this to my mom

  4. houston dental implant restoration on Fri, 15th Oct 2010 11:38 am 

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  5. admin on Thu, 20th Jan 2011 5:53 am 

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