REALTORS® Expect Modest Price Growth in Next 12 Months

With rising inventory and modest expectations of demand growth, REALTORS® responding to the October 2014 survey expected home prices to increase modestly in the next 12 months, according to data gathered from the October 2014 REALTORS® Confidence Index Survey: http://www.realtor.org/reports/realtors-confidence-index[1]. Local conditions vary with expectations anchored on factors such as the level of inventory, the state of the local job market, and credit conditions.

The median expected price increase is about 3 percent. The map shows the median expected price change in the next 12 months based on the August – October 2014 surveys[2]. No state had a median expected price growth above 5 percent. States with the most upbeat price expectations (orange) include California, Washington, North Dakota, Texas, Florida, Georgia, the District of Columbia, and Massachusetts–states with strong housing markets, job growth, and economies.

Happy Holidays!

Polly

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