Preview of PMI Group report due out Tuesday

Real Estate Agent with Prudential Shimmering Sands Realty

The PMI Group will release its forecast for nationwide housing on Tuesday.  According to a CNBC report today, the report focusing on the next two years of the real estate market has both good and not so good news forthcoming. 

The report will basically say that the nation has approached a bottom in the decline in home prices with some metro areas actually seeing the possibility of slight value increases.  Markets like Denver, Charlotte, and other regional hubs have upside potential over the next two years.  But on the other hand, California, Florida (especially the South East coast), Las Vegas, and Portland have soft markets in the foreseeable future.  Regional stability in those markets is possible, but overall those soft markets still have some challenging times ahead.  Just remember that challenge is just another word for opportunity, and that economists can make numbers say anything that they desire.

Comments (1)

Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~

I think the PMI group is wrong if they are predicting an upswing so soon.  I think the bank troubles will continue to bring the market down.

Jun 30, 2008 01:14 PM