The residential real estate
fog that's engulfed the nation is starting to
lift in favor of a far sunnier outlook, according
to several real estate forecasters.
But while the worst may be over,
there's still some nastiness to come. As the
market bottoms out with prices in coastal areas
dropping harshly and sales declining, other
markets are poised for growth.
Exactly where, how and when depends on which
forecaster you ask. We asked:
Chris Porter, senior consultant with
John Burns Real Estate Consulting and former
director of Professional Builder magazine's
Website.
Richard F. Moody, chief economist and
director of research of Mission Residential,
a real estate investment firm.
Dr. Lawrence Yun, Managing Director of
Quantitative Research at the National Association
of Realtors where he manages the Statistics
and Forecasting Groups of the Research Division.
Ingo Winzer, president of Massachusetts-based
Local Market Monitor, a real estate analysis
firm which looks at housing costs across the
country.