History predicts market’s future

Forbes sees the housing market slowly rebounding, and looks to history for what’s next. Although prices are still nowhere near the peak from 2006, “an expanded view shows prices now reverting to the mean, or moving back in line with longer term averages and levels since 1975.”

They note that June was the second straight month of quarterly and yearly gains at a national level, and was also lifted since May. If the housing market’s comeback stays on this track, prices at the end of 2012 could see a 4.5% recoup.

In perspective: with low prices coming from an unprecedented peak in 2006-2007, and while prices are on the rise, historically they are on par with historically “normal” rates.

Read the full article at Forbes:

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