Housing prices in Bend, Oregon will return to peak-price levels between 2015-2025
Interesting news from Oregonlive.com’s excellent Front Porch real estate blog:
The housing markets around the Portland-area and Central Oregon will not rise back to their peak-era pricing levels until after 2015, according to research firm Fiserv.
The Seattle and Eugene area will bounce back between 2013 and 2014, the firm forecasts.
The Northwest forecasts are far better than the Sand States — California, Arizona, Florida, Nevada — where a return to boomtime prices isn’t expected until after 2025.
The forecast is based on data from Fiserv, the Case-Shiller index, the Federal Housing Finance Agency and Moody’s Economy.com. (via HousingWire)
David Stiff, Fiserv’s chief economist, said in a statement that the index points to another 7 percent decline in home prices through 2010, with a prolonged recovery starting in 2011. He said: “We see several powerful forces in the market that will severely hinder the housing recoveries of many metro areas.”
