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Home Prices are Finally Returning to Normal

By mdblog - March 27, 2013

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Since the summer of 2006 the real estate market has presented itself with tumultuous upswings and downswings, and we can only anticipate a light at the end of the tunnel.

So here we are…

The latest forecasts  predict the housing market to slowly return back to normal. In  a recent article on CNNMoney.com,  home prices are predicted to increase by an average of 3.3% annually over the next five years, ending in September 2017. According to David Stiff, Fiserv's chief economist, 2012 became the catalyst in driving our economy back to a sense of normalcy.  "Between September 2011 and September 2012, average U.S. home prices rose 3.6%.  By then,  62% of the 384 metro areas Fiserv tracks reported rising home prices, up from just 12.5% of all markets during the same period a year earlier."

Even those markets that were hit the hardest have witnessed price gains over the past 12 months, and should anticipate a growing improvement over the next few years.

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Jim DeRentis
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