Real Estate Market to Finally Hit Bottom in 2011?

by Cory Maguire on December 30, 2010

National housing prices are likely to drop another 5 to 10 percent in 2011, as they finally hit a “trough” before slowly rising again, according to real estate data company Altos Research. As reported by Inman News,

Prices are going to go down a little bit more, and if there’s nothing but bad news out there, (which is) what we’re seeing, then that must mean that at some point we are hitting the trough, and we feel that 2011 is finally going to be that point,” said Scott Sambucci, the company’s vice president of data analytics.

The rise will not be immediate, and some areas may be subject to more “local price volatility” than others, but overall this is an encouraging forecast for the New Year!

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