Posted in Industry News
Realtors Expect Growth in Home Prices Over the Next Year
A recent Housing Wire article cited results from the May 2014 Realtors Confidence Index showing that members of the National Association of Realtors (NAR) expect home prices to rise in the next 12 months. Housing Wire attributes this expected increase to the slowing of home price appreciation.
The survey data went on to show that NAR members believe the increase in home price will be seen in all 50 states as well as the District of Columbia. States expected to see the heaviest growth are Florida, Texas, Oregon, Colorado, Georgia and California. Additionally, the median home price in the United States is expected to rise by 4 percent.
Local market conditions as they relate to housing supply and demand, as well as demographics and job growth, can all impact expected price movements. The states listed above are predicted to see the highest increase in home price as a result of strong cash sales, low inventory levels and strong growth sectors, like technology and oil.
Read the full article from Housing Wire here.
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