Today, many real estate conversations center on housing prices and where they may be headed. That is why I 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 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 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 appreciation of 6.7%.
Bottom line, unless we have some major discrepancy or an earthquake in California, home prices are going to continue to rise. Interest rates are at an all time low, what are you waiting for? Higher prices, higher interest rates? Contact me today to start the process of making a move. 661-510-5370
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