(EMAILWIRE.COM, March 02, 2010 ) Destin, Florida -- Severe headwinds, including high unemployment, rising foreclosures, a tight mortgage market and expiring government programs are forecast to send home prices in the majority of U.S. markets lower in 2010, according to the national Housing Predictor forecast.

The average price of a home is forecast to deflate 8.5% for the year, but some markets will do better than that. The first time home buyers’ tax incentive and an expansion of the government program to move-up buyers will usher in a higher volume of sales, but little real pricing recovery is projected for the year.

The excess inventory of homes for sale and a shadow inventory of at least 2.8-million housing units will pressure markets.

The national home price assessment was determined after a lengthy review of data gathered in the majority of housing markets. Failures by Congress and the White House to proactively work to rein in the excesses on Wall Street and a tight mortgage market make it unlikely for markets to unwind from the collapse in housing, and may prolong the downturn a number of years.

Rising foreclosures are damaging housing values in the majority of the country even as some markets see slight increases in home prices, but much of the housing inflation is due to government incentives and government purchasing of mortgage-backed securities.

When government programs are halted, Housing Predictor analysts project housing markets will turn sluggish.
Consumers, business owners, retail companies, bankers, mortgage companies and real estate firms consult Housing Predictor forecasts.

Housing Predictor provides free real estate forecasts for markets in all 50 states, real estate news and analysis on the housing market at http://www.housingpredictor.com

Contact Information:
Housing Predictor
Mike Colpitts
Tel: 8506221016
Email us


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