Welcome to Home Price Trend.
Here at Home Price Trend, we are dedicated to tracking the trends of the housing market. Utilizing the data provided by Realtors.com we are able to offer a picture of the home trends for major cities across the United States. We have recently added home trends for all States. Using the asking home price (list price) we track the direction of home trends. Although this is not actual home sale prices, it does give a good prospectus as to how the housing market is performing. We encourage you to take some time and browse the different housing markets and see the home trends developing across the nation. If you live in a metropolitan area that is not listed on our site, we encourage you to send in a request to have the home trends in your city analyzed. If enough requests for the home trends of a particular city is requested, we will definitely add the home data to our website. We're currently conducting a poll asking visitors of our website their opinion as to when they feel that home trends will reverse it's current course and bottom out. We appreciate your opinion and look forward to your visits. Thank you for helping make Home Price Trend a free site for everyone.
Home Price Trend for 2012
We're in the third month of year 2012 and a few trends are starting to develop in the housing market. Home prices have been creeping up since the start of the year. Have we seen a bottom? I doubt it, this can best be described as a "dead cat bounce." For those who believe home prices have bottomed, they are quite naive. From looking at the trends for the previous 6 years, we're no where near our bottom. We're probably on the 3rd leg of a 5 leg race. With foreclosure rates starting to creep up again, we can start to see declines starting again sometime in the near future, possibly during the summer months. We expect the decline to accelerate into the winter months as more foreclosures hit the market. It's quite reasonable to expect another 5% decline in home prices before the end of year 2012.
If history tells us anything, home prices typically go up and down in a 10 year cycle. The last bottom in home prices was back in the mid 1990s and the last real top in home price was in 2006. So if this decline in price is anything similar, we can expect home prices to continue falling well into 2015/16. During any decline, there will be months in which prices do go up. The last bounce in home price that we had was back in the middle of 2009 through early 2010. This rise was soon met with a strong decline that took it to new recent lows in January 2012.
Recent fed action to keep rates low for an extended period of time is keeping home prices afloat. If there are any action from the Fed to raise rates, the prices of homes will see more decline.
So if you're looking for a house, consider carefully what you're getting into, only purchase if you plan on staying there for the long haul. Home prices still have a long ways to decline before we see it rise. Even when home prices bottom, there will not be a knee jerk reaction to the upside. Typically the prices will bottom out for 2 to 3 years before it'll slowly inch up.
We thank you for visiting homepricetrend.com and we home you the best of luck in your search for a better home.
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