ousing markets will has been credited for its correct
depreciate an average of forecast of more than 2-million
4.2% nationwide in 2007, homes that will be foreclosed
according to the annual Housing through 2009, mainly due to fall
Predictor forecast. The forecast out from the sub-prime loan
for the decline was first issued crisis.
in January and after a
reassessment at mid-year remains However, many markets have been
unchanged. insulated from the sub-prime
crisis. Second home and vacation
An average depreciation rate of markets and many markets above
4.2% would be the largest the $300,000 price mark are not
depreciation the U.S. housing experiencing many foreclosures
markets have seen since 1991. due to the sub-prime crisis since
Housing markets in the majority buyers in those price ranges
of the nation have an over supply usually do not obtain sub-prime
of inventory of homes, condos and loans, which are made to shaky
other properties on the market. borrowers with damaged credit
Many areas have their highest histories.
inventory in years with declining
prices. But 18 states markets are Housing Predictor forecasts more
experiencing appreciation, than 250 local housing markets in
despite the nationwide slump in all 50 U.S. states and also
housing sales. Another ten states provides new real estate listings
are stabilizing. and foreclosure listings with its
new partner, Realty Store.com.
The Housing Predictor forecast The web site, which provides
model took the expected unbiased forecasts, is regularly
foreclosure crisis into account consulted by major financial
in its forecasts and the web site institutions and Wall Street
brokerage firms, banks, mortgage appreciation in many markets.
companies, real estate companies
and consumers for its up to date Housing Predictor expects 2008
forecasts. home sales to also be soft in
many areas of the country, but to
The nation’s housing markets are show gradual improvement in
under going otherwise normal growth towards the end of the
transitions to more steady sales year in heavily populated western
in many parts of the nation states and the northeast.
unaffected by the sub-prime
crisis after five years of record
About the Author:
Mike Colpitts is the Editor of Housing Predictor. For more news on housing markets and to check your markets forecast, search real estate listings and foreclosures visit http://www.housingpredictor.com
Read more articles by:
Mike Colpitts
Article Source: www.iSnare.com 
