Where are Home Prices Headed in the Next 5 Years?
In real estate, there is always talk of home prices and where they are headed. People make the decision to move or not based on home prices at that time. It is always nice to look ahead at what potentially the housing market could be in the future.
Every quarter Pulsenomics surveys economists, real estate experts, and investment & market strategists nationwide on their beliefs for home prices within the next 5 years. Their 100+ projections are then averaged into one number.
Here are the results from their most recent survey.
- 2017 – Home values will appreciate by 4.4%
- 2018 - Home values will appreciate by 3.4%
- 2019 - Home values will appreciate by 2.8%
- 2020 - Home values will appreciate by 2.7%
- 2021 - Home values will appreciate by 2.8%
This makes the average annual appreciation 3.22% over the next 5 years. Appreciation in your home’s value means that there is an increase in the value over a period of time. The outcome of this survey is very positive for those who are looking to sell their home in the future.
The value of your home is going up over time. Now is the time to sell! Call us at The Brunner Burkhart Group for your buying and selling needs. We have a highly knowledgeable staff who would be more than willing to assist you in any way you need!