1. The market is showing signs of stabilization and is being supported by historically low interest rates.
2. The Fed is expected to push mortgage rates even lower in 2012.
3. Prices could decline slightly in 2012 and may show some improvement in 2013.
4. Sales activity should gradually increase in 2012 and 2013 as affordability continues to improve and consumer confidence rises.
5. For continued improvement in the local real estate market we will need sustained economic growth and a decline in unemployment as lenders continue to reduce foreclosures and clear the market.