Even though home prices have been steadily climbing, a recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next 12 months.
📊While seeing a small handful of expert opinions may not be enough to change your mind, hopefully, a larger group of experts will reassure you. Here’s that larger group:
🏘The Home Price Expectation Survey (HPES) from Pulsenomics is a great resource to show what experts forecast for home prices over a five-year period. It includes projections from over 100 economists, investment strategists, and housing market analysts. And the results from the latest quarterly release show home prices are expected to go up every year through 2027.
This means for every $400,000 of home price, you will see an appreciation of
💵2023: 3.32% appreciation equates to $413,280
💵2024: 2.17% appreciation equates to $422,248
💵2025: 3.24% appreciation equates to $435,929
💵2026: 3.79% appreciation equates to $452,451
💵2027: 4.18% appreciation equates to $471,363
🏡 If you have any questions about what’s next for home prices in Palos Verdes and South Bay, let’s connect with your local expert 📲 Stephen Haw (310) 503-9886 to find out.
DRE# 00808646, Keller Williams Palos Verdes Realty.
www.StephenHaw.com
Call 310.503.9886 for professional guidance from The Stephen Haw Group, your local experts with international connections.