13 Dec Home Prices: Where Will They Be in 5 Years?
HOME PRICES: WHERE WILL THEY BE IN 5 YEARS?
Today, many real estate conversations center on housing 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. They then average the projections of all 100+ experts into a single number.
THE RESULTS OF THEIR LATEST SURVEY:
Home values will appreciate by 4.0% over the course of 2017, 3.2% in 2018 and 3.0% the next three years (as shown below). That means the average annual appreciation will be 3.24% over the next 5 years.
The prediction for cumulative appreciation ticked up from 18.7% to 21.4% by 2021. The experts making up the most bearish quartile of the survey are projecting a cumulative appreciation of 10.2%.
Individual opinions make headlines. We believe this survey is a fairer depiction of future values.
Eric Matz, Realtor
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Source: Simplifying The Market