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Armando Montelongo Team Blog
Data Firm Predicts Slight Increase in Home Values in 2012
Home prices are expected to rise for the first time in five years this year, according to a forecast from housing data firm ClearCapital.
The Clear Capital Home Data Index was down 2.1 percent in 2011, the company noted in its year-end report. That number is expected to rise by 0.2 percent this year, staying close to levels last seen in 2001.
The 2.1 percent change was the smallest in either direction since a 1.7 increase in 2006. Most of the drop came in the first five months of the year, ClearCapital’s report said.
Trends varied widely across the 50 metro markets that are part of the company’s report, from an 11.5 percent increase in values in Dayton, Ohio, to an 18.3 percent drop in Atlanta. Markets with the largest declines in value tended to have large percentage increases in the number of sales of REO (lender-owned) properties.
Here are the 10 markets from the list with the biggest increases and the 10 with the biggest decreases in value in 2011, with the percentage of REO properties in each market:
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