“You’re still dealing with a supply-demand imbalance that suggests home prices will remain under pressure,” commented Tom Porcelli, chief U.S. economist at RBC Capital Markets Corp., in the Bloomberg reported.
According to the Fed’s latest Beige Book report, the country’s 12 Federal Reserve Districts revealed that home prices were either flat or falling during the last six weeks, reports Kara Johnson for Mortgage Loan.
“In forecasting the future direction of home prices, the two main factors we continue to consider are housing demand and the pace of foreclosure release,” Deutsche Bank said in a note this week. “Housing demand will depend primarily on the pace of economic recovery and job growth”
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Max Chen contributed to this article.