Where Prices are Headed Over the Next Five Years

Frequently, you will see headlines in the news about "Prices rise this week", "Interest Rates are going down", and then the next day, the headlines switch.  "Prices are going down", "Interest Rates are up".  "It's a buyer's market", "It's a seller's market". . . .you get the point, it is confusing and contradictory!

This is why you want to see a report like the one I am posting below.  Every quarter, an organization called Pulsenomics surveys a panel of over one hundred economists, real estate experts and investment and market strategists about where they think prices are going.  They average those prices and come up with the results in a Home Price Expectation Survey.

Their latest report just came out, and here is where the experts think that prices are heading.

According to the experts. . .

• Home values will appreciate by 4.5% in 2014. 
• The average annual appreciation will be 3.94% over the next 5 years 
• The cumulative appreciation will be 19.7% by 2018. 

Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of almost 11% by 2018.

Listen to the experts! The market is improving, and confidence in the market it much higher.

Know someone who is thinking of selling, or looking to buy? Send them along! Spring is just starting to show itself after a very long and snowy winter here in Northeast Ohio. Hopefully you are enjoying the sunshine today!