Home prices in the Bay State are expected to fall between 3 percent and 6.5 percent in 2011, according to a recent report from Fiserv Case-Shiller.
The following year-over-year price drops are expected for these Massachusetts metro areas:
• Barnstable Town: 6.2 percent
• Boston-Quincy: 4.5 percent
• Cambridge-Newton: 4.8 percent
• Peabody: 4.6 percent
• Pittsfield: 0.8 percent
• Springfield: 3.5 percent
• Worcester: 6.5 percent
However, in 2012, home prices are expected to rebound for the Massachusetts metro areas. The following increases are forecast:
• Barnstable Town: 2.7 percent
• Boston-Quincy: 2.2 percent
• Cambridge-Newton: 3.6 percent
• Peabody: 3.6 percent
• Pittsfield: 6 percent
• Springfield: 4.7 percent
• Worcester: 2.7 percent
"The first step toward restoring confidence in housing markets is an improvement in consumer sentiment, which we expect will increase slowly through 2011 due to stronger job gains and a falling unemployment rate," said David Stiff, chief economist, Fiserv. "As confidence rises, the decline in home sales that started in 2006 will, finally, come to an end."





