With 2012 just around the corner, Inside the Market looks at articles summarizing current market conditions for 2011 and looking toward the future.
December 26-30, 2011
The year 2011 is ending on a high note as economists anticipate some signs of recovery ahead. Prices appear to be reaching their trough, visible supply is on the decline, and banks are beginning – just slightly – to loosen lending standards […] however, these positive signs do not point to an immediate recovery
Prices are forecast to decline until the market’s bottom is reached in late 2012 or early 2013. After 2013, the panelists expect a relatively steady annual appreciation rate of roughly 3 percent through 2016, which is slightly below appreciation rates experienced during the pre-bubble years.
Banks set the clock for forced sales of more than 26,000 homes in the state in November, a 63% increase from October. Overall foreclosure notices nationwide fell last month.
Enter a world where robots, holograms, and even time travel might well upend the business of buying and selling property, as we know it.