AJC Reports Economists Looking for Housing Bottom in 2012

AJC Reports Economists Looking for Housing Bottom in 2012

The “usual suspects” were cited as the cause for the housing market to continue to struggle in 2012: negative equity, unemployment, and low consumer confidence.  But good news may be in sight as economists are looking for a potential recovery to begin in 2013.

“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.” Atlanta Journal and Constitution Dec 20, 2011.

If you are thinking about buying an Atlanta Georgia Home, 2012 may be your year.  Prices are affordable and money is cheap.  

Visit the English Team Buyer Tips and Advice website to get a jump-start on 2012 Atlanta Home Buying.