US realty market to cool down
According to a new report from Fiserv Lending Solutions, a Las Vegas based organization, realty markets in the US are in for a flattened growth. According to its forecast, median home prices across the US will inch up just 1.6%.
The report also suggests, that cities that experienced high growth in property prices are going to see a dip in prices and areas that were not overheated may grow. According to the report’s findings, Las Vegas will probably experience the steepest dip in its property prices of up to 8.2%. Prices in New York are expected to dip 2.43%, LA 3% and Washington 1.9%.
Areas, where realty prices had stagnated are expected to grow. Prices in Houston are expected to grow by 6.1%, in San Antonio by 8.3% and in Memphis by 7.8%.
These corrections are likely to even out property prices across the US and bring them in line with true values.
Click here to access nationwide forecasts.