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Monday
Oct012012

Home Prices May Not Return Until 2023

CNN Money reports today that the severe decline in home prices during the last 4 years may mean some homeowners who bought at the peak may never get their money back.  Housing is bouncing back, but it has a long way to go.

U.S. home prices have dropped by a third from the start of 2007 to the start of 2012.  Forecasters are predicting that the average pricing for housing will increase 3.7% a year for the next five years. At that forecasted growth rate, the national average high from 2007 would not be hit again until 2023

And for some areas like the metro Dalton area it could take even longer.