Home Prices: Where Will They Be in 5 Years?
Looking into your financial future does not have to be burdensome, says Orlando property manager and REALTOR Devinee Overton-Morgan. The current trend on real estate shows prices continuing to increase and building American family’s wealth.
Today, real estate conversations tend to focus 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 strategists about where they believe prices are headed over the next five years. They then average the projections of all the experts into a single number.
The results of their survey:
Home values will appreciate by 4.0% over the course of 2017, 3.2% in 2018 and 3.0% the next three years (as shown below). That means the average annual appreciation will be 3.24% over the next 5 years.
The prediction for cumulative appreciation ticked up from 18.7% to 21.4% by 2021. The experts making up the most bearish quartile of the survey (the most conservative outlook) are projecting a cumulative appreciation of 10.2%.
Individual opinions make headlines. We believe this survey is a fairer depiction of future values.