According to realtormag.com, better times are ahead for real estate sellers in 2012! The financial information services firm, Fiserv, predicts that 95 percent of the 384 metro areas it tracks will see higher prices in 2012. Most other economists and surveys indicate a modest growth in the housing market for  this year. But after the last several years of dropping prices and increasing foreclosures, even the slightest rise will provide a glimmer of hope. In a survey by MacroMarkets of one hundred real estate professionals and economists, those who responded predicted that home values will rise by about 0.25 percent in 2012– a modest but hopeful turn.

Of course, the market still must absorb a significant backlog of foreclosures in many areas. Because of that, the price increase through 2015 will probably be a little over 1 percent, according to the survey. But remember that this is a reversal after a forecast of 2.8 percent decline in median home values for 2011.

Foreclosures continue to be a heavy weight on some markets and prevent the stabilization of home values. As one economist alluded, the water in the living room is still deep, but it isn't getting deeper anymore and is starting to recede.

The lower prices, combined with low interest rates have helped families in the median income range to break into homeownership. This in itself could be trend setting and assuage buyer fears. The time is right for the Echo Boomer generation (18-32 age group) to take part in the housing resurgence. Also sales of adult community homes are stimulated by senior buyers maintaining good health longer. And fewer new homes are being built, helping to stimulate the resale market. Indications are it’s a good time to plan a move.

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