With inventory presently below historically normal levels, current and 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 and 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.
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Jim Starwalt, Real Estate Broker
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2015 Real Estate Market - Home Prices 5 Year Outlook