Home Prices Will Rise over the Next 5 Years

Despite concerns about a potential home price crash, data indicates that prices are rising across the country. According to a Fannie Mae survey, 23% of consumers fear a price decrease in the next 12 months. To address these worries, experts provide insights into the trajectory of home prices over the next five years.

The Home Price Expectation Survey (HPES) by Pulsenomics, featuring input from over 100 economists and analysts, projects consistent appreciation in home prices through 2027. While the increase in 2024 may not be as substantial as in 2023, cumulative home price appreciation is anticipated. For instance, a 3.32% rise this year could translate to a 2.17% increase the following year.

Regardless of local variations, experts believe that home prices will continue to rise across the country at a more normalized market pace. The HPES projections demonstrate how a typical home's value might change over the next few years, indicating potential household wealth accumulation.

For those worried about falling home prices, the key takeaway is that nationally, experts predict a continuous climb in home prices not only next year but for several years. If there are concerns or questions about the local area's housing market, connecting with experts is recommended.

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