Today, many real estate conversations center on home 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 quarter 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. You can get an estimate of what your home is worth at http://www.socalhomevaluenow.com/ this will work for any city in Southern California. Remember though this is just an estimate and only a visit to your home would give you an accurate home value. If you would like to see what your home is worth please call me at 951-216-3008 and lets setup an appointment for me to visit.