According to  a recent study completed by Fiserv housing prices may not rebound to there highs of 2006/2007 till at least 2020 in MD !.  Now real estate values rise and fall with the tides and location is critically important to overall values.  So pockets of our state may see a rebound earlier.

I hate to say it but I am somewhat a believer in these numbers.  If you look at the recent economic numbers, we may in fact go back into a recession.  If not, we will certainly see a prolonged period of below average growth and high unemployment figures.  If people cannot work, they cannot buy homes.

Also, many homeowners (as much as 25%) currently owe more on their home than it is worth, so until housing values rebound they will not be in a position to move up.  First time homebuyers are making up the majority of purchases these days, but they are buying distressed properties such as short sales and REO’s. So there is no one to MOVE UP.

Here is a link to the full article

http://www.housingwire.com/2010/04/09/peak-house-prices-will-return-to-sand-states-after-2025-fiserv

If you are waiting for the market to rise to that you can sell your house, you may be in for a long wait.