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REALTORS® Expect Prices to Increase Modestly in Next 12 Months

REALTORS® generally expect modest price increases in the next 12 months with demand easing and more inventory coming into the market. The median expected price increase is 3.7 percent [1].

Some REALTORS® saw the forecasted slowdown as a welcome brake to the rapid home price growth amid the modest growth in consumer incomes and jobs. Local conditions vary, and conditions can change as the economy changes. See the November REALTORS® Confidence Index Survey report for more information.

[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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