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Expected Price Growth Strongest in West and South Markets

REALTORS®  generally expect  a modest  increase in prices in the next 12 months , with the median expected price change at about 4 percent. This is based on responses gathered from the August-October 2013 REALTORS® Confidence Index Survey. About 3,000 REALTORS ® respondents answer the survey each month. See  the October report at  http://www.realtor.org/reports/realtors-confidence-index.

The graph below shows the median expected price change across the states which are grouped into those with “low”, “middle” and “high” price expectations[1].   States in the West and in the South expect the highest price increase in the range of about 4-8 percent. Tight inventory  continues to bolster prices in these areas.


[1] The median expected price increase at the state level is based on the last 3 surveys to increase the sample size for each state.

Comments
  1. Kim

    I live and work the Reno-Sparks NV real estate market. In the last 2 months I have seen increased inventory and price reductions occurring, something we haven’t seen in several long years. There is also longer market times than previously in the year, which generally happens during the winter I might add. I think most of our areas are at healthy levels now and hopefully will experience only healthy/sustainable rates of gain from here on out.

  2. I live and work in the Laughlin, Nevada area and our inventory has increased (thank God!) as our inventory has been very small and sales have been lost because of limited inventory. Now that the inventory has increased, so has business. Our prices are going up but not jumping. The market has stablelized a has evolved from a Buyer’s market to a seller’s market.

  3. Santina Saporito

    I’ve been selling homes in and around a five county area of Cleveland OH since 1978. I am happy to say that 2013 reminded me of the “good old days” of the mid 1980′s through mid 2000. While our prices in many communities are still very low, we are selling a lot of homes. The challenges seem to occur with home inspections and lending. That said, 2013 is my best year yet. Let’s hope and pray that our economy continues to improve. Merry Christmas everyone and may your 2014 be blessed with great health and prosperity.

  4. val

    I’ve been selling homes in and around San Francisco and inventory is super limited… As of January 2nd, we have 120 homes and 118 condos/townhouses being in active status for the whole city of San Francisco. The same situation around SF…