Where home prices are headed in 2012

While some industry experts say falling home prices could be approaching the bottom, Kiplinger outlines what to expect from prices during 2012.

Since the housing market’s peak in 2007, home prices have fallen significantly in some areas of the country, and according to Kiplinger, the worst is in the past. This is because the excessive appreciation of property values leading up to the housing bubble burst has now been cleared out, which could make way for a slow but steady recovery.

Some industry experts believe there are currently multiple positive and negative indicators offsetting one another, which is keeping prices low, but stable, says the source. In addition, other analysts expect to see even more government-sponsored initiatives that would make it more affordable when refinancing your home loan.

Meanwhile, an analyst from Moody’s Analytics claims that if home prices were to decline in 2012, it would be by a marginal amount, but would set up the housing market for considerable gains during 2013.

Arming yourself with the most up-to-date housing market details is a great way to stay informed of current mortgage loan rates. Freedom Mortgage offers some of the most extensive news, homeowner tips and personal finance information in the industry.