Share
In the monthly REALTORS® Confidence Index Survey, the National Association of REALTORS® asks members “In the neighborhood or area where you make most of your sales, what are your expectations for residential property prices over the next year?”
Among REALTORS® who responded to the April 2016 survey, the national median expected price change over the next 12 months was 3.8 percent (3.7 percent in March 2016; 3.9 percent in April 2015), according to the April 2016 REALTORS® Confidence Index Survey Report.[1] On the one hand, REALTORS® expect housing price growth to moderate as rising prices have made homes less affordable for many. On the other hand, tight supply is leading to expectations of further price increases.
The map below shows the median expected price change over the next 12 months for each state based on the February–April 2016 RCI surveys. The District of Columbia and the states of Washington, Oregon, and Colorado are the areas that are expected to have the highest price growth, with the median expected price growth at more than five to seven percent in each of these states. REALTOR® respondents from California, Nevada, Utah, Minnesota, Michigan, Tennessee, South Carolina, Georgia, and Florida also expected strong price growth, with the median expected price growth at more than four to five percent in each of these states.
[1] Respondents were asked “What are your expectations for the housing market over the next six months compared to the current state of the market in the neighborhood(s) or area(s) where you make most of your sales?”
Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.
