WHERE ARE PRICES HEADED IN THE NEXT 5 YEARS?
We get asked everyday, “what do you think my home will be worth in five years?”
Tough question to answer unless you keep an eye on the stats and trends of the economy. We watch this stuff constantly. Over the last 20 years we've been really good at helping our clients understand the market and determine their long term goals when investing in real estate.
Here are some very clear national stats that show a very slow, consistant growth over the next 5 years. This is good! California will always see a slightly higher appreciation, but overall projections are to expect about as “normal” of a market as we've seen in many years. Great for buyers and sellers alike.
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 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 4.8% in 2014.
- The cumulative appreciation will be 23.5% 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 15.1% by 2019.
Individual opinions make headlines. We believe the survey is a fairer depiction of future values.
If you have comments or questions you can reach us at info@yvonnearnold.com or (951) 734-4300.