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 3.9% by the end of 2015, 3.4% in 2016 and 3.1% in each of the following four years (as shown below). That means the average annual appreciation will be 3.2% over the next 5 years.
The prediction for cumulative appreciation rose from 18.1% to 21.6% by 2020. Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 13.8%.
Individual opinions make headlines. We believe the survey is a fairer depiction of future values.
“The ache for home lives in all of us, the safe place where we can go as we are and not be questioned.” —Maya Angelou
CoreLogic released their most current Home Price Index last week. In the report, they revealed home appreciation in three categories: percentage appreciation over the last year, over the last month and projected over the next twelve months.
Here are state maps for each category:
The Past – home appreciation over the last 12 months
The Present – home appreciation over the last month
The Future – home appreciation projected over the next 12 months
Homes across the country are appreciating at different rates. If you plan on relocating to another state and are waiting for your home to appreciate more, you need to know that the home you will buy in another state may be appreciating even faster.
Call ME to help you determine your next steps. I look forward to it.
When it comes to decorating, you have to work very hard to beat New Orleans style
Check out this gorgeous home in the French Quarter for outrageous ideas.
Welcome to “Hometown America,” as Jackson Hole is called in Chinese, a mammoth real-estate venture that is an exacting pastiche of an American frontier town, albeit one with a wine-tasting pavilion, a New Age spa and security guards dressed as park rangers, who salute every passing car.
Modest entry-level homes sell for $625,000. Larger abodes — described by Jackson Hole’s developers as castles — have an attached vineyard and fetch nearly $8 million. The developer, Ju Yi International, says that more than 90 percent of the 1,500 homes have already been sold. Occupying more than a square mile of arid land in northeast Hebei Province, Jackson Hole has plenty of room to expand.
This New York Times article is “mind-blowing” and amazing. Read more about it here: