{"id":9530,"date":"2023-12-04T06:30:00","date_gmt":"2023-12-04T11:30:00","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=9530"},"modified":"2023-12-04T06:30:00","modified_gmt":"2023-12-04T11:30:00","slug":"experts-project-home-prices-will-rise-over-the-next-5-years-2","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=9530","title":{"rendered":"Experts Project Home Prices Will Rise over the Next 5 Years"},"content":{"rendered":"
\"Experts<\/p>\n

Even with so much data showing home prices<\/a> are actually rising in most of the country<\/a>, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent survey<\/a> from Fannie Mae<\/em> shows that 23% of consumers think prices will fall over the next 12 months. That\u2019s nearly one in four people who are dealing with that fear \u2013 maybe you\u2019re one of them.<\/p>\n

To help ease that concern, here\u2019s what the experts<\/a> say will happen with home prices<\/a> not just next year<\/a>, but over the next five years.<\/p>\n

Experts Project Ongoing Appreciation<\/strong><\/h4>\n

While seeing a small handful of expert<\/a> opinions may not be enough to change your mind, hopefully, a larger group of experts will reassure you. Here\u2019s that larger group.<\/p>\n

The Home Price Expectation Survey<\/em><\/a>\u00a0(HPES) from Pulsenomics<\/em>\u00a0is 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 (see graph below<\/em>):<\/p>\n

\u00a0<\/a><\/p>\n

<\/p>\n

And while the projected increase in 2024 isn\u2019t as large as 2023, remember home price<\/a> appreciation is cumulative. In other words, if these experts are correct after your home\u2019s value rises by 3.32% this year, it should go up by another 2.17% next year.<\/p>\n

If you\u2019re worried home prices are going to fall, here\u2019s the big takeaway. Even though prices<\/a> vary by local area, experts project they\u2019ll continue to rise across the country for years to come at a pace that\u2019s more normal<\/a> for the market.<\/p>\n

What Does This Mean for You?<\/strong><\/h4>\n

If you\u2019re not convinced yet, maybe these numbers will get your attention. They show how a typical home\u2019s value could change over the next few years using the expert projections from the HPES. Check out the graph below:<\/p>\n

\u00a0<\/a><\/p>\n

<\/p>\n

In this example, let\u2019s say you bought a $400,000 home at the beginning of this year. If you factor in the forecast from the HPES, you could potentially accumulate more than $71,000 in household wealth<\/a> over the next five years.<\/p>\n

Bottom Line<\/h3>\n

If you\u2019re someone who\u2019s worried home prices are going to fall, rest assured a lot of experts say it\u2019s just the opposite \u2013 nationally, home prices will continue to climb not just next year, but for years to come. If you have any questions or concerns about what\u2019s next for home prices in your local area, connect with a real estate agent.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-9530","post","type-post","status-publish","format-standard","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/9530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9530"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/9530\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}