The Real Deal Miami

Market likely to rebound in 2012

June 22, 2009 01:51PM

According to Business Week, three years
should be enough to recover from the housing crisis, with the market
rebounding in 2012. David Wyss, Standard & Poor’s chief economist, said,
“We expect prices to drop for another year and then stabilize before
starting to rise with incomes.” Based on the National Association of
Realtors national median home price of $180,000 for the fourth quarter
of 2008, the median price for the end of 2009 is expected to be
$152,000, and then rebound to $179,000 by the end of 2012.