Economists expect home prices to rise by a total 2.3 percent during 2012, and overall have become more bullish on home prices than they were in the second quarter, according to the September 2012 Zillow Home Price Expectations Survey.
The report, and conducted by Pulsenomics LLC, was obtained by surveying economists, real estate experts and investment and market strategists, said Zillow.
The survey was based on the projected path of the
The repondents expect home prices to increase in 2012 by 2.3 percent, up from their forecast of -0.4 percent in the June 2012 survey. They have also revised their forecast for the 2013-2016, predicting steadily increasing home values in each year.
“This is further evidence that we’re seeing a true recovery in the housing market,” said Zillow Chief Economist Stan Humphries .
“Not since mid-2010 – in the midst of the homebuyer tax credits – have we seen this group so bullish on housing,” said Humphries.
The most optimistic of the panelists predicts a 4.4 percent increase in 2012, on average, while the most pessimistic predict an average increase of 0.3 percent.
Howard Pankratz: 303-954-1939, hpankratz@denverpost.com or twitter.com/howardpankratz
