Home prices expected to rise in 40% of major metros in 2011

December 22, 2010 by Shirleen Von Hoffmann Leave a reply »

Veros « HousingWire

San Diego should see home prices rise 3.5% next year, but prices in Florida and Nevada, two states where the foreclosure crisis is especially acute, will drop 6% to 7%, according to a real estate market forecast.

While 40% of major metros are expected to see appreciation in home prices, most of that is expected to be fairly mild.

The forecast comes from Santa Ana, Calif.-based Veros Real Estate Solutions, a technology firm serving the financial services industry.

The forecast looks at the median price tier in metros of 500,000 or more. For December 2010 through December 2011, select markets in the U.S. can expect to witness 2.5% to 3.5% appreciation on home values, including Washington state’s tri-city area.

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