Today, many real estate conversations center on home prices and where they may be headed. That is why we like the Home Price Expectation Survey.
Every quarter, Pulsenomics
surveys a nationwide panel of over one hundred
economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. Then they average the projections of all 100+ experts into a single number.
The results of their latest survey:
Home values will appreciate by 5.0% over the course of 2017, 4.0% in 2018, 3.2% in 2019, 3.0% in 2020, and 3.0% in 2021. That means the average annual home price appreciation will be 3.64% over the next 5 years.
The prediction for cumulative appreciation increased from 17.8% to 18.4% by 2021. The experts making up the most bearish quartile of the survey are projecting a cumulative home price appreciation of 6.7%.
Individual opinions make headlines. We believe this survey is a fairer depiction of future home prices. If you are thinking of buying a home, stop thinking and start acting! Call me today.