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REALTORS® who responded to the June 2015 survey expect prices to increase over a range of two to seven percent, with the median at 3.4 percent over the next 12 months, according to the June 2015 REALTORS® Confidence Index Survey Report.
Since all real estate is local, price expectations varied across local markets and states. The map shows the median expected price change in the next 12 months for each state based on the April 2015–June 2015 RCI surveys.[1] REALTORS® from Colorado and Florida had the most upbeat price expectations, with a median expected price growth in the range of five to seven percent. In California, Nevada, Washington, Oregon, Texas, Minnesota, Georgia, New Hampshire, and the District of Columbia, the median expected price growth was four to five percent. Prices are expected to increase at a modest pace of less than three percent in many Northeast states as well as in the West North Central states.
[1] In generating the median price expectation at the state level, we use data for the last three surveys to have close to 30 observations. Small states such as AK, ND, SD, MT, VT, WY, WV, DE, and D.C. may have less than 30 observations. The median expected price change is the value such that half of respondents expected a price growth below the median, and half of the respondents expected a price growth above the median.
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