Industry NewsMarkets & Economy

Economists expect 2013 home price rebound

Homeownership rate expected to drop in next five years

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

After experiencing a slight dip this year, home prices will see modest increases starting in 2013 and through 2016, according to a quarterly survey of more than 100 economists, real estate experts and investment strategists.The survey, conducted by research and consulting firm Pulsenomics LLC on behalf of real estate search and valuation portal Zillow between May 31-June 14, 2012, asked 114 participants to project the path of the S&P/Case-Shiller U.S. National Home Price Index over the next five years. When last published May 29, the index showed that national home prices in the first quarter hit a record low, declining 1.9 percent from first-quarter 2011. Prices were down 35.1 percent from their second-quarter 2006 peak, to levels last seen in mid-2002. The panel of experts surveyed by Pulsenomics said they expect the index, which covers all nine U.S. census divisions, will show a 0.4 percent annual decline at the end of 2012 and then increase by 1.3 percent in 2013. T...