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?”
The map below shows the median expected price change in the next 12 months among REALTORS® who responded to the June–August 2016 RCI surveys, according to the August 2016 REALTORS® Confidence Index Survey Report. Price expectations vary by area, and the median expected price change is a measure that represents the middle value of the distribution of responses.
The areas of strongest expected price growth are in the District of Columbia and Washington, where the median expected price growth was more than five to six percent. REALTOR® respondents from Oregon, Colorado, Tennessee, South Carolina, and Florida also expected strong price growth of greater than four to five percent.
With prices having increased steeply since 2011, REALTORS® expect prices to grow at a slower pace in the next 12 months, with half of the respondents expecting home prices to increase by 3.1 percent or less.
In many states, REALTORS® expect prices to increase but at a slower pace in the next 12 months than was expected in previous months.