| Bank of America/Merrill Lynch is calling for a bottom in housing prices this year, thanks to improving economic data and government-policy developments. The firm has adjusted its forecast from November, when it expected home prices to fall 3.5% in 2012. Now, it expects a gain of 0.5%.
"But, along with the earlier bottom is a slower recovery," says the firm. For example, it expects home prices to gain 2.8% in 2014, solidly below its prior estimate of 8.1%. Its prediction for 2020 remains roughly the same, when it expects home prices to have recovered by 42%...............................................Full Article: Source
|