Survey says: real estate bottoms in 2012
More than 100 economists and real estate experts surveyed believe home prices will continue dropping in 2012.
The online real-estate firm Zillow conducted the survey, in which the respondents said they expect the market to turn up in 2013, followed by a steady annual appreciation rate of roughly 3 percent through 2016.
“There is a consensus among the nation’s top housing experts that we have not yet reached a bottom and are instead working through a prolonged bottoming process. Negative equity, unemployment and low consumer confidence remain the key factors delaying a true recovery,” said Stan Humphries, Zillow's chief economist.
--Christopher Quinn
About the Author
Christopher Quinn is a writer and editor who has worked for The Atlanta Journal-Constitution since 1999. He writes stories on Veterans Affairs, business including high-tech growth in metro Atlanta, Georgia's $72 billion farm economy, and he oversees assigning and editing news obituaries.
