With inventory presently below historically normal levels, current & future home prices have been the topic of many real estate conversations. The most recent Home Price Expectation Survey was just released; giving insight into where experts believe prices will be leading up to 2019.
Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100 experts into a single number.
Here are some highlights from their latest survey:
- Home values will appreciate by 4.4% in 2015.
- The cumulative appreciation will be 19.3% by 2019.
- That means the average annual appreciation will be 3.6% over the next 5 years.
- Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 11.7% by 2019.
Individual opinions make headlines. We believe the survey is a fairer depiction of future values.