Modest Recovery in Two Years?
Many housing markets could see a stronger recovery two years from now, even though the latest forecast for the coming year shows only modest ones, according to one forecast.
Although there aren't any overwhelmingly strong appreciating forecasts in the near term, the depreciating ones are milder than they were a year ago, according to Veros Real Estate Solutions, a collateral valuation provider based in Santa Ana, Calif.
In its quarterly forecast update for June 2010 through June 2011, Veros said California's Inland Empire area, including Riverside, San Bernardino and Ontario, is seeing modest appreciation, joining the state's strongest metro region, San Diego.
"Colorado is beginning to look good again to buyers, with three cities among the top 10," said Eric Fox, vice president of statistical and economic modeling at Veros.
"A new entry among the top five positive trending areas is Louisiana's Shreveport and Bossier City area."
Chico, Calif., leads the list of weakening markets, but Florida continues its depreciation trend in many areas along its East Coast.
Nevada's second largest market, Reno/Sparks, stays on the list of weakest markets, while Las Vegas avoided inclusion.