Dallas-area home prices could dip slightly in the months ahead, if a new housing forecast proves correct. But the same data from researchers at Fiserv Inc. predicts that home prices here will rise again slightly from 2011 into 2012. “We expect to see prices bounce up and down around their lows for the next two to three years,” said David Stiff, economist with the Wisconsin-based financial services industry information firm. “This will result in alternating bouts of optimism and pessimism regarding the housing market recovery, similar to what we have seen for the economy as a whole. “This will make it difficult to know exactly when the housing market has reached its bottom." Fiserv’s new forecast calls for Dallas-area home prices to fall by 1.1 percent by first quarter 2011 from a year earlier. Then residential prices in the area will rebound by 0.3 percent thorugh first quarter 2012, if the researchers are right. Other housing industry studies have shown that home prices in North Texas are up by between 2 percent and 3 percent so far in 2010 compared to the same period last year. And local statistics suggest that the Dallas-Fort Worth residential market is indeed improving. Home sales in North Texas are up 9 percent from a year ago. And the number of home foreclosure filings has fallen in recent months.
Saturday, August 7, 2010
Fiserv forecast predicts short-term drop in Dallas-area home prices
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