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Stabilizing Predicted in 2012
Home prices this year stopped their decline and gain momentum across all markets as more and more individual markets stabilize.
Though national prices will be level, the majority of markets are estimated to stabilize in 2012. Clear Capital recently reported a 2.1 percent year-over-year decrease in 2011 that was reinforced by a leveling of prices in the latter half of the year and decreasing REO saturation.
2011 was reported as a comparatively unobtrusive year for home prices compared to the last five years, national prices were down a little more than the past year and sitting at their bottommost point since 2001.
markets reacting to their limited economic drivers show a wide range of performance levels, the national numbers suggest markets are flat, but when looking at individual metro markets it turns out only 24 percent of them showed signs of stabilization in 2011, while the others are still moving more dramatically higher or lower. Lower segments of rising markets are driving much of the current price growth.
Prices weakened in December on a quarter-over-quarter basis, showing the markets giving back some of the gains of the summer buying season. The most recent six months of the year saw national ... more
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