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REALTORS® Expect All States to Post Price Gains in Next 12 Months

Based on responses to the November 2012 REALTORS® Confidence Index Survey, all states are expected to see home price increases in the next 12 months. The graph below shows the median expected price change for the next 12 months. The states are classified into “low” (0.5% – 2.4 %), “middle” (2.4- 2.9%), and “high” (2.9 -5.6%) expectations.

  • States that suffered heavily during the housing bust, such as California, Nevada, Texas, and Florida, are in the group of states expecting the highest prices increase, as much as about 5 percent (upper third).
  • Most Northeastern states, including New York, are expecting the lowest price increase.
  • Across all states, the median expected price change for the next 12 months is 3.1 percent.

Comments
  1. Matt Difanis

    Please be clear, when publishing such surveys or statistics, that gains in median sales prices are not the same as increases in same-home prices. The article references expected “home price increases,” but median sales prices can increase even while actual same-home values remain flat. The confusion created among consumers by poorly worded headlines and articles can set the stage for unrealistic seller expectations on price and an assumption that their REALTORS® are at fault for homes that fail to sell because of poor pricing influenced by authoritative headlines that mislead homeowners into thinking their homes values are increasing with each passing minute.