July 12, 2024

2011 housing market outlook
2011 housing market outlook

Moody’s Analytics Chief Economist Mark Zandi and Senior Director Celia Chen in an email for a webconference sated:

The housing market correction will come to a close this year thanks to accelerating job growth and low house prices. Foreclosures will still cast a pall on the housing market, however, weighing on the national house price index for much of 2011. Downside risks are receding, but the housing recovery remains fragile.

  • Housing will hit bottom this year. Home sales and construction are already at their lows and house prices should bottom by the fall.
  • Key to this outlook is an economy whose engines are fully engaged and businesses who are hiring more aggressively.
  • Foreclosures, which will drive another 5% decline in house prices, remain one of the main risks to the outlook.

San Diego real estate

1 thought on “Housing Bottom in 2011

  1. Hi Bob, great info you are sharing with everyone. This is the most common question I am asked by people as well….have we hit bottom? I tell them it all depends on what area or neighborhood you are looking at….it’s that specific. That is why they need a good Realtor to educate them on where the market is and where it is trending.

    Thanks for the info.

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