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Where Are Home Prices Heading?

Home prices are expected to continue their trajectory upward, projected to rise 3.7 percent between the third quarters of 2013 and 2014, according to data from the Federal Housing Finance Agency.

Home prices are expected to continue their trajectory upward, projected to rise 3.7 percent between the third quarters of 2013 and 2014, according to data from the Federal Housing Finance Agency.  In 1997, home prices grew at a 3 percent rate, but from 1998 to 2006, prices started soaring above 5 percent and even saw double-digit increases in some of those years.

“Although some recent real estate activity has been speculative, it seems as if buyers have more realistic expectations about housing market returns after having lived through the largest housing market crash in U.S. history,” says David Stiff, Fiserv’s chief economist. “2012 was the first year since 1997 that the housing market has resembled something recognizable as normal. For the past 15 years, home-price changes and sales volumes have either been boosted by a bubble mentality or crushed by crash psychology.”

Source: RISMedia

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