2009 Home Price Forecasts: Up or Down?

Money Magazine recently put out a city-by-city home price forecast, using data from Fiserv Lending Solutions, First American CoreLogic, city and county assessors, and realtors. The magazine determined that U.S. home prices will fall an average of 9.7%, see list below.

click to enlarge

Take note that Detroit has the highest expected appreciation of 8.6% in 2009, up from $120,000 in 2008!

Comments

[SoCalsurfbum:]

A Ph.D., huh? I don't understand the point of this post.

How useful is a home price forecast when what it is forecasting (average home price) is a grossly inaccurate measure in and of itself, heavily affected by vagaries such as sales mix and misrepresented selling prices? How can it help anyone make a better decision? Are these the same forecasters that didn't see the downturn happening in the first place?

What would be more helpful is if you had some insight on market drivers or other factors that will change the nature of the current market and cause an inflection point for buyers / sellers.

2008 May 14 04:02 PM

[mallarde:]

I don't think he was trying to demonstrate what he learned to earn his doctorate. He just posted a chart he found of interest in Money Magazine.

2008 May 14 11:38 PM

[User 130076:]

Piled higher and deeper PHD should be sweeping floors at KMart something he mighr be able to handle.

2008 May 15 08:48 AM

[gwinner:]

The median price in San Diego is already $415,000?

Let's cut the PhD bashing on this site, it discredits your own post.

2008 May 15 09:11 AM

[roid:]

Sounds like a lot PhD envy. Inappropriate, offensive, and irrelevant. If you have a comment on the substance of the posting, do so without bashing the person's educational background.

2008 May 15 09:57 PM

[User 406111:]

interesting that NYC, LA are in top 10..Chicago the 3rd largest city is quite a ways down which is positive.

May 02 01:36 PM