Some
of the hardest-hit markets during the housing crisis — plagued by soaring
foreclosures and plummeting home prices — are expected to post some of the
biggest gains through 2013, according to a report released this week by
Fiserv.
"Some
markets may have overshot to the downside, and people are jumping in to try to
catch the bottom," says David Stiff, Fiserv’s chief economist. Fiserv recently
projected that nationwide housing prices will gain 4 percent a year over the
next five years.
San Jose-Sunnyvale-Santa Clara, CA Metropolitan Statistical Area
Forecast change: second quarter, 2011 – second quarter, 2012 -1.2%
Forecast change: second quarter, 2012 – second quarter, 2013 +1.2%
Market
fundamentals
Median Family Income
(Fourth quarter 2011) $99,500
Median Home Price
(Fourth quarter 2011) $514,000
Change in Home Prices
(From fourth quarter 2010 thru fourth quarter 2011) -2.6%
Worst 1-Year Home Price Change
(1980-2011) -31.2%
Median Family Income
(Fourth quarter 2011) $99,500
Median Home Price
(Fourth quarter 2011) $514,000
Change in Home Prices
(From fourth quarter 2010 thru fourth quarter 2011) -2.6%
Worst 1-Year Home Price Change
(1980-2011) -31.2%