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
inclinejj
I think with the amount of foreclosures working their way thru the system this is nothing but wishful thinking..
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
Guy Johnson
Steve, Love the links. 🙂
Thanks for sharing.
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
Zillow: Housing market to bottom in 2012 | RRB Home | Housing Market
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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. 🙂
Sully
Just looked at Mitchs List for today. It looks like a close out sale for junk cars! 🙂
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.
Jeff
Steve, that is awesome. Eventually SOMEONE will be right.