Home prices will slip further over the rest of the year, before
beginning to rebound in 2012, according to a forecast by a leading housing market analyst.
The study, released Tuesday by Fiserv, predicted that home prices for more than 95 percent of metro areas will rise by the beginning of 2013.
Using data from the Fiserv Case-Schiller Index of home prices, Fiserv--which provides information management systems to the financial industry--found that the drop in home prices that began again last year continued in the first quarter of 2011. The group's research found that prices had fallen in 302 out of 384 metro areas surveyed.
At the same time, however, Fiserv noted several positive signs for the beleaguered sector, including a slower pace of foreclosures. In part because Fiserv also anticipates wider economic growth next year, analysts for the company project "a broad-based recovery for housing that will begin in early 2012."
End in sight for housing slump? | The Lookout - Yahoo! News