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REALTORS Still Optimistic On Rising Appreciation
“Slower sales due to tight credit conditions, declining affordability due to the recent price growth amid modest income gains, and fewer distressed sales likely account for the modest expectations,” economists note in the report. Some states are slightly more optimistic about home price increases, such as in Florida, where low housing inventories and high demand are expected to boost prices. Price growth in Florida is expected in the range of 5 percent to 7 percent over the next 12 months.
Real estate professionals in states including California, Oregon, Nevada, Texas, and Georgia are forecasting home prices to be greater than 5 percent to 6 percent in the next 12 months. In most states, agents are predicting a 3 percent to 5 percent growth in home prices.
Source: REALTORS® Confidence Index Report and Market Outlook, April 2014 and “REALTORS® Price Expectations by State in Next 12 Months,”
National Association of REALTORS® Economists’ Outlook blog (June 6, 2014)
Phil Mount is an agent at Front Street Brokers in Boise, Idaho. Phil became a licensed REALTOR in August 2009 after a 25 year career as a technology marketing professional. In his first year as an a....
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