On Sale?
Housing prices are likely to fall, Americans say.
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Adding to an increasingly gloomy economic forecast, the National Association of Realtors recently predicted that housing prices will decline by an additional 1.2 percent this year. According to a recent Gallup poll, the American public is similarly pessimistic. Thirty-five percent of Americans expect average home prices in their area to fall, compared to 29 percent that expect them to rise. When Gallup asked the question in May 2005, 70 percent of Americans said that they expected home prices to rise, while only 5 percent expected them to fall. Source: The Gallup Organization, latest that of January 2008.