While the housing market is in full recovery mode, giant leaps in prices should not be expected, CNNMoney reported Wednesday.
In fact, an estimated two-thirds of the nation’s housing market will see decline in housing prices for the year through next June, analysts from Fiserv (FISV) said. This will result in an overall gain of just 0.3%.
If Congress doesn’t act soon on deals to halt a series of tax increases and spending cuts, “even people who do have the resources to buy homes will be more nervous,” said Celia Chen, an economist and housing market analyst for Moody’s Analytics.
To read CNNMoney’s full report on the home price recovery, click here.