A recent survey found most realtors think prices will fluctuate by an average of 3.5% this year
Realtors expect this year to have moderate home prices, according to the National Association of Realtors.
NAR’s January 2017 survey on realtors’ confidence index revealed that the median expected change in home prices for the next 12 months is 3.5%. This means half of the participants expect home prices to be higher by less than 3.5%, while the other half expects it to be higher by more than 3.5%.
Most of the states have a greater than 2% or 3% median expected price change. Washington, Oregon and Colorado ranked the highest with its median expected price change higher than 4% or 5%; North Dakota, West Virginia and Alaska have the lowest with 0% to 2%.
During the last quarter of 2016, Washington had the highest median expected price change for the West with greater than 5.0%; Michigan was the highest for selected Midwest states with greater than 3.0%; Florida for select South states with 4.0%; and almost a tie for select Northeast states Massachusetts, New Jersey, New York and Pennsylvania with greater than 2% and at or greater than 3%.
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Real estate agents optimistic for 2017
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NAR’s January 2017 survey on realtors’ confidence index revealed that the median expected change in home prices for the next 12 months is 3.5%. This means half of the participants expect home prices to be higher by less than 3.5%, while the other half expects it to be higher by more than 3.5%.
Most of the states have a greater than 2% or 3% median expected price change. Washington, Oregon and Colorado ranked the highest with its median expected price change higher than 4% or 5%; North Dakota, West Virginia and Alaska have the lowest with 0% to 2%.
During the last quarter of 2016, Washington had the highest median expected price change for the West with greater than 5.0%; Michigan was the highest for selected Midwest states with greater than 3.0%; Florida for select South states with 4.0%; and almost a tie for select Northeast states Massachusetts, New Jersey, New York and Pennsylvania with greater than 2% and at or greater than 3%.
Related stories:
Real estate agents optimistic for 2017
Morning Briefing: Pending homes sales slip on tight supply
