DALLAS (Dallas Morning News) – A new report from Moody’s Economy.com and Fiserve Lending Solutions predicts when Texas home price declines will bottom out and what the peak-to-bottom price drop will look like.
Most major Texas cities went into the home market downturn later than many throughout the country and will level off ahead of the U.S. average, according to the report’s analysts.
Houston has one of the smallest expected home price declines in the country at 0.2 percent. Analysts expect the city’s home price decline to bottom out in third quarter 2009.
Austin’s peak to bottom home price is expected to fall by 1.3 percent, hitting bottom in fourth quarter 2009.
Dallas-Fort Worth’s price decline will come to 1.1 percent and bottom out in third quarter 2009.
The report predicts San Antonio will experience the largest decrease in the state with a 1.6 percent decline, but it will bottom out in first quarter 2010.
The overall U.S. market could see a price drop of 36.2 percent and bottom out in the fourth quarter of this year.
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