Where Are the Home Prices Heading in the Next 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 4.4% over the course of 2017, 3.4% in 2018, 2.8% in 2019, 2.7% in 2020, and 2.8% in 2021. That means the average annual appreciation will be 3.22% over the next 5 years.
The prediction for cumulative appreciation fell from 21.4% to 17.3% by 2021. The experts making up the most bearish quartile of the survey are projecting a cumulative appreciation of 6.3%.
Bottom Line
Individual opinions make headlines. We believe this survey is a fairer depiction of future values.
What’s next in your life?
[button link=”https://johnricerealtor.com/move-buyers/” bg_color=”#562449″ border=”#562449″]Moving Up[/button]
[button link=”https://johnricerealtor.com/downsize-buyers/” bg_color=”#562449″ border=”#562449″]Downsizing[/button]
[button link=”https://johnricerealtor.com/list-with-john-west-michigan-realtor/” bg_color=”#562449″ border=”#562449″]Neither – simply have a property to sell[/button]
Source: Michigan Real Estate Updates