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Housing bears facing extinction?

Posted by Scott Van Voorhis November 8, 2012 06:54 AM

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Sorry housing bears, but you appear to be a dying breed, a new survey shows.

Just 10 percent of those polled in a newly released national survey of housing market sentiment expect prices to drop over the next year.

That's down from over a quarter who were bracing for further declines back in October 2011, according to the Fannie Mae's October 2012 National Housing Survey.

By contrast, 36 percent of those polled expect prices to increase 1.7 percent over the next year. Nearly half, or 48 percent, essentially expect no change in real estate values over the next 12 months.

Most believe it is a good time to buy - it's not clear from the survey whether that number is 72 or 66 percent. Either way, it's certainly high.

But just 18 percent of those surveyed argued it is a good time to sell - yet another sign of the trouble on the inventory front.

Still, while housing bears may be a in dwindling minority, that certainly isn't the case in the comments section of this blog!

And there is good reason to be skeptical.

Here's Yale economist Robert Shiller sounding a very strong cautionary note. The Case-Shiller co-founder clearly doesn't believe the housing market is out of the woods yet.

Look out ahead! Here comes the fiscal cliff!

This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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