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 100?economists, real estate experts, and investment and 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 3.9% by the end of 2015, 3.4% in 2016 and 3.1% in each of the following four years?(as shown below). That means the average annual appreciation will be 3.2% over the next five years.
The prediction for cumulative appreciation rose from 18.1% to 21.6% by 2020. Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 13.8%.
Bottom Line
Individual opinions make headlines. We believe the survey is a fairer depiction of future values.?For more information, please contact The Olear Team today!