Forbes.com predicted that Houston home prices will rise in 2011, according to this article dated January 6, 2011...
"Today the real estate research provider released its monthly Clear Capital Home Data Index (HDI) market report, recapping the price fluctuations of 2010 and asserting market valuation forecasts for 2011.
"According to the report 70% of the U.S.'s major markets dropped in value in 2010 and 2011 will witness further price declines.
"... Thirty-five out of 50 [of the largest Metropolitan Statistical Areas] are expected to further depreciate this year, pulling the average national values down another -3.6% by this time next year.
"But there is a shining beacon of hope in this scenario: the other 15 metros. The national market as a whole may still be hemorrhaging value but some cities are already sprouting the beginnings of a property value rebound...
"... A list of the top 10 cities that Clear Capital expects will rise in property value in 2011[includes] ... 2. Houston, TX: 3.6% price increase y/y."
Morgan Brennan, Forbes.com
To read the full article, click here.
Great news for us to hear that Houston home prices are expected to rise in 2011!