Real Estate Predictions for 2006 City by City. Expect a big drop!

[Quixote1818]

http://money.cnn.com/2006/02/02/real_estate/house_price_predictions_for_2006/index.htm

[NMDemDist2]

1. PHX still holding at a 3.3% increase. I need to sell in 18-24 months tho

:bounce:

[GOPFighter]

2. Well, last year homes in Washington DC went up over 24%

And next year it's supposed to drop 1.7%? I don't think that's going to help first time buyers much.

[MissB]

3. Not for our area, apparently.

Even CNN's chart is showing positive growth in our city.

We sold a house 2.5 years ago here for $365k (which was purchased about 16 years ago for $56k). That house just went back on the market for $479k. It is fascinating, yet horrifying.

[mom cat]

4. What is the "big drop'? Boston - 1.3 %. My house is way overpriced.

Some reduction would only adjust for the hyper inflation caused by speculators.

[QC]

9. I suspect this is more happytalk from the real estate industry.

They're good at that, you know. Here nothing is moving and supply is about to increase by 20,000 units, but there's seldom a week when a local real estate nabob isn't in the paper predicting another booming season and urging us all to buy property.

[TomInTib]

5. My area is never listed in these things but I will guarantee prices

will not drop here (Belvedere/Tiburon, Marin County, CA).

[QC]

6. I don't get how they're predicting increases.

I live in a place where seemingly every fourth house is for sale and just sitting there unsold while developers are feverishly throwing up McMansions and condos on every spare inch of space, yet they are predicting a rise of almost 10% this year, on top of the 25% from last year.

Huh?

[HooptieWagon]

7. I wonder where they got their numbers

They list a median price in my area (Tampa Bay) of 162K. WTF? There isn't much here for sale for under 200K - I know, I bought a house last year. I'd say the average is closer to 225-240.

[fed-up]

8. Chico, CA CA 246,000 17.1% -1.9% 246 would get u a tiny 3/1

There must have been a ton of lower end houses that sold last year, either that or condos have been selling like crazy since people can't afford the houses here...

A $249K house in Chico, means a 2/1 or 3/1, around 1,000 square feet, with a tiny yard and a garage if you are lucky in the "college student" rental housing area of town which means lots of cars, and lots of loud parties at night...

Still I can handle a 2% drop would would only be 78K.. if my house sells this year...

Here are the $225-400K houses for my area

http://www.realtor.com/FindHome/HomeListings.asp?mlsttl=&frm=byzip&pgnum=1&mls=xmls&js=on&target=&ct=&st=&sbint=&sbls=&sblo=&lnksrc=SRP-ModSearch&stype=&zp=95928&areaid=95928&lid=Enter+MLS+ID&ss_aywr=&optInCheckbox=&mnsqft=0&fid=so&vtsort=&exft=0&exft=0&exft=0&mnprice=225000&mxprice=400000&mnbed=2&mnbath=1&typ=1&x=16&y=4&poe=realtor