7 On Your Side
Home prices could rise 4 percent per year
Home prices have been dropping steadily over the past six years and they still are. That's expected to turn around soon though.
There are so many bargains out there and analysts say finally buyers are beginning to buy them. Market researchers predict home prices will rise by 4 percent per year over the next five years.
The upswing will be driven by investors and first-time home buyers.
Housing prices have dropped by about one-third since the mortgage crisis began.
As prices start going back up, Oakland and San Jose could be the biggest winners. That's because many tech workers are moving in and many of them are looking for homes.
housing market, 7 on your side, michael finney
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