Investors expected to drive market gains as market recovers.
Average U.S. home prices — down by a third since 2006 and still falling — will rise almost 4% a year for the next five years, according to a new forecast.
Market watcher Fiserv sees prices stabilizing by summer's end and then climbing, quickly in some places until gains taper off. The forecast is based on an analysis of leading home price indexes.
Investors will drive much of the momentum, as they are now in cities such as Las Vegas and Phoenix.
First-time and trade-up buyers will eventually follow.
By the time home prices stop falling, they'll be almost 35% below their 2006 peak, Fiserv says.
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Source: USA Today