Home prices will see steady increases through 2016 starting this year, according to a quarterly survey of more than 100 economists, real estate experts and investment strategists.
S&P;/Case-Shiller Home Price Indices, which include data through June, show national home prices up 1.2 percent from a year ago during the second quarter. All of the markets in the S&P;/Case-Shiller 20-city composite posted annual gains for the second month in a row, and all but two -- Charlotte and Dallas -- posted better annual returns in June compared to May.
This quarter's survey results show optimism has increased among the participants, who in the second quarter
had predicted a 0.4 percent dip in home prices this year, followed by modest increases starting in 2013 and through 2016.
Economists now forecast home prices will rise 2.3 percent in 2012 from fourth-quarter 2011, and see further cumulative rises of 4.7 percent in 2013, 8 percent in 2014, 11.4 percent in 2015, and 15.2 percent in 2016.
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Economists bullish on housing recovery | Inman News