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REALTORS® Expect Prices to Increase Modestly in the Next 12 Months

About 90 percent of REALTORS® responding to the September REALTOR® Confidence Index Survey expect constant or higher prices in the next 12 months (92 percent in August), with the median expected price increase projected at approximately 4 percent [1].

What does this mean for REALTORS®? Market expansion appears to be continuing on a measured basis—not the potential bubble mentioned from time-to-time in recent months.

[1] The median is the middle value. A median expected price change of 4 percent means that 50 percent of respondents expect prices to increase above 4 percent while the other 50 percent expect prices to increase (or decrease) at less than 4 percent.

Jed Smith, Managing Director, Quantitative Research

Jed Smith is Managing Director, Quantitative Research with the National Association of Realtors®. He has worked on real estate issues for the past 20 years, providing input on a variety of housing, commercial real estate, tax, and planning issues. Recently he has been involved in several international studies.

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