Some believe the combined effects of the new tax code and rising mortgage rates will have an adverse impact on residential real estate prices in 2018. However, the clear majority of recently surveyed housing experts believe home values will continue to rise this year.
What is the Home Price Expectation Survey?
Every three months, Pulsenomics surveys a nationwide panel of economists, real estate experts and investment & market strategists. Those surveyed experts include:
- Daniel Bachman, Senior Manager, U.S. Economics at Deloitte Services, LP
- Kathy Bostjancic, Head of U.S. Macro Investors Service at Oxford Economics
- David Downs, Real Estate Finance Professor at VCU
- Edward Pinto, Resident Fellow at American Enterprise Institute
- Albert Saiz, Director at MIT Center for Real Estate
Where do these experts see home values going in 2018?
In the next twelve months the experts believe the following:
- 21.6% believe prices will appreciate by 6% or more
- 71.6% believe prices will appreciate between 3 and 5.99%
- 5.7% believe prices will appreciate between 0 and 2.99%
- Only 1.1% believe prices will depreciate
Almost ninety-nine percent of the top real estate experts studying residential real estate believe prices will appreciate this year, and over 93% believe home values will appreciate by at least 3%.
Of course, the "Experts" have been wrong before, but all indications suggest if you are waiting for prices to decrease, you will be waiting beyond 2018.
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