Morning Minute: JPMorgan Chase forecasts higher home prices in 2013

The latest market forecast from JPMorgan Chase is a fairly optimistic one with expectations of U.S. home prices rising as much as 7 percent in 2013, HousingWire reports today, “JPMorgan raises home price forecast, sees long road to recovery.”

“As we pointed out in our 2013 outlook, the distressed sale discount should continue to decline. Indeed, the quantitative easing program has not done much for mortgage rates, but the resulting reach for yield is now firmly grounded in the housing market,” the company said, according to the article.

Other trends JPMorgan says to watch this year: The “shadow inventory” of distressed homes that have not yet entered the market is expected to drop as is the number of homeowners who are underwater on their mortgages.

In other news:

Equity growth signals a transition back to ‘normal’Daily Herald

Illinois foreclosure filings drop in FebruaryCrain’s Chicago Business

This entry was posted in Housing Market, Uncategorized by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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