Prediction of 3.7% Drop In Prices in 2011 – Due To Unemployment & Excess Inventory

Posted on January 7th, 2011 in All Articles, Market Conditions, Short Selling/Buying.

CHICAGO, IL “Short Sale Super Man” Big Picture.

A California-based  firm forecasting home prices nationally  says that 2011 prices will  fall by another 3.7 percent by the end of 2011. Dr. Alex Villacorta is Clear Capital’s statistician, who says the two clear drivers are (1) local unemployment rates and(2) the prevalence of distressed homes(see prior entry on “return to equity date”).

– Noting pricing volatility, Clear Capital reflected the fact that 38 of the top 50 markets saw price swings of more than six percent at some point last year.

-The company’s price forecasts show varying levels of decline across all four regions in 2011, with local markets in the West expected to accumulate the largest overall losses.

Thanks for reading this, Phil Buoscio.
Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc..
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