Categorized | Residential

Property Prices in the United States Expected to Drop

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As if the residential real estate market in the United States couldn’t get any worse, experts are now predicting that the overall decline in property values will continue well into next year. Prices had actually increased by as much as four percent nationally in previous months, though that positive trend is expected to quickly reverse in the coming months.

The latest residential real estate reports indicate that prices will drop throughout the rest of the year, and will likely continue to fall in the first few months of 2012. Experts are anticipating as much as a five percent drop in overall housing prices nationwide.

The anticipated drops will likely cause the property values in the United States to fall to their worst levels since the housing crash. In addition, many experts and analysts alike believe that the market will not recover, but rather stay flat for at least three years.

Foreclosures continue to take their toll on overall sale prices of homes. With more than a million foreclosed properties still yet to surface on the market, the impact of foreclosures will remain a dominant factor in influencing residential property values for months to come.

While many real estate agents and lenders had hoped that the real estate market had already bottomed out, the reality is that the worst may have yet to come. Furthermore, once the residential property market in the United States does hit rock bottom, it is not expected to see any kind of improvement for some time. Experts anticipate that it will remain at rock bottom for many months before any kind of improvement is seen in the sale of new homes.

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About Ella Jourgeson

Ella was recently an intern who checked all the articles for grammatical and spelling errors. She is now an all purpose writer filling in wherever we need help.

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