From RealTrends.com: MacroMarkets LLC March 2011 Home Price Expectations Survey finds that most experts are expecting only a weak housing recovery over the next year or so.
“Overall, the sentiment among our expert panel regarding the U. S. housing market outlook continues to deteriorate. Now they are expecting only a weak recovery, and even that is not until 2013. This uninspiring view must be influenced by the persistently weak market fundamentals – high unemployment, supply overhang, an unabated foreclosure crisis, and constrained mortgage credit,” according to Robert Shiller, MacroMarkets co-founder and chief economist.Shiller noted that there continues to be significant dispersion among the panelists regarding their individual home price forecasts and added, “A few respondents do see a real recovery, predicting prices up 20% or so by 2015. The differences of opinion are interesting but unsurprising in light of continuing and unprecedented fallout from the historic bubble.”
The March 2011 Home Price Expectations Survey is compiled from 111 responses of a diverse group of economists, real estate experts, investment and market strategists.