Zillow: Housing market to bottom in 2012

Zillow has released its 2nd-quarter Real Estate Market Reports. The report contains mixed reviews and projections for the nation’s housing market. While two-thirds of markets covered in the report experienced home value appreciation quarter-over-quarter, only 25 of the 154 MSAs covered showed two consecutive quarters of appreciation.

Zillow’s Chief Economist, Dr. Stan Humphries, expects “a bumpy road ahead”. From the Zillow report: Despite positive signs in the short term, Zillow’s Chief Economist Dr. Stan Humphries continues to predict a true bottom in home values in 2012, at the earliest, because of factors like foreclosures, negative equity and fluctuations in demand for homes.

Click here to see Zillow’s 2nd-quarter analysis of the Reno Metro Housing Market

See Zillow’s entire 2nd-quarter real estate market report here: Five Years After Housing Market Peak, Bumpy Road Toward Stabilization Underway As Home Values Show Recent Rise in Many Markets

9 comments

  1. inclinejj

    I think with the amount of foreclosures working their way thru the system this is nothing but wishful thinking..

  2. Steve Herschbach

    Well, they did leave an out

    “Humphries continues to predict a true bottom in home values in 2012, at the earliest,”

    At the earliest. Or later as the case may be.

    Housing market to bottom in 2008 – http://www.kiplinger.com/magazine/archives/2007/12/home-prices-2008.html

    Housing market to bottom in 2009 – http://www.therealestatebloggers.com/housing-general/bottom-of-real-estate-market-is-early-2009-according-to-realtor-survey/

    Housing market to bottom in 2010 – http://www.chartingstocks.net/2009/06/real-estate-market-bottom-2010/

    Housing market to bottom in 2011 – http://www.reuters.com/article/2011/01/12/housing-forecast-idUSN1223962120110112

  3. Guy Johnson

    Steve, Love the links. 🙂
    Thanks for sharing.

  4. Dumben

    Incline Village Y-O-Y: -17.6%

    He’s run to hills, probably to get flogged by the wife. I wonder what old Smarten has to say about his genius, once in a lifetime purchase now.

    Just wonderin’………..

    P.S. Nice links Herschbach

  5. Sully

    Steve, this is looking just like the dot.com crash when Wall Street geniuses kept calling the bottom over and over again. However, even a stopped clock is right once in a while. 🙂

  6. Sully

    Just looked at Mitchs List for today. It looks like a close out sale for junk cars! 🙂

  7. bob_c

    With ZIRP extended for at least 2 years….the search for yield and the investment of cash into the economy is the Feds goal. I personally think our country is doing a Japan circa 1989 to present. Cash is a loser as inflation is back. Being a landlord is one option as rental rates have held up well for the hands on investment type.
    Try to hold your cash until the next real blow out of the financial markets or are we going to continue the drip, drip, drip erosion of many asset classes. LOL at pension funds using 8-9% as ROR in a ZIRP environment. I’d take 3-4% with no questions asked. Time to make money the old fashioned way…..to earn it.

  8. Jeff

    Steve, that is awesome. Eventually SOMEONE will be right.

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