I truly do not believe that home prices in the entry-level market will change much in 2010. Most markets in the country have bottomed-out. We will see slight appreciation in some cities where inventory is limited and demand is strong, but no double-digits. In other cities where foreclosures
dominate the market, prices might dip a little here and there over the coming 12 months but, for the most part, the worst is over. Those 50% price drops are a thing of the past.
At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.