We all have suffered from falling average home prices since 2006 but change seems right around the corner. Fiserv, a market watch company, predicts that prices for real estate will start to stabilize this summer and expect they will rise about 4% each year for the next five years.
It appears as if investors will be a driving force behind this development and at this time Florida appears to amongst those states that show the strongest signs of housing recovery.
The market appears to be rebounding; we see this everyday now with so called “low-ball” offers. Where a while ago with the number of sellers grossly larger than the number of buyers offers of 25% and lower off the asking price might have gotten accepted these times seem to reach an end.
Economists say the housing market is at a turn-around point; homebuyers who want to catch a bargain do still have time. Home prices have fallen and home affordability for average families is higher than it was in years. Overall, big changes may lie ahead for the years to come and prices are expected to bounce back by next year.