Is there opportunity left in U.S. real estate for Canadian-based investors? YES.
It sounds a bit silly to say it, but the situation in the U.S. real estate world still seems to be “okay, this year is going to be less worse than last year”.
From an American perspective, no one is saying “it’s gonna be great” or even “it could improve”. The thinking almost consistently among the experts is that the decline is going to continue, but at a slower rate.
Real estate analysts at Zillow are forecasting a continued drop in U.S. home values in 2012, noting a 1.1% drop in its most recent Home Value Index. Property values decreased in the fourth quarter of 2011 leading to an overall decline of 4.7%, and experts are expecting a 3.7% drop in the coming year. The Zillow Home Value forecast examines data from the country’s 25 largest markets and current market sentiment is expected to result in price falls that will not end until 2013. Some areas are in a position to find a bottom and experience increases as early as this year, however, including Los Angeles, Phoenix, Baltimore and Washington, D.C. Despite the bad news, the continuing declines are not expected to be as significant as last year and will likely spur increased sales. For more on this continue reading the following article from Property Wire.