In a monthly survey of REALTORS®, respondents are asked “In the neighborhood(s) or area(s) where you make the most sales, what are your expectations for residential property prices over the next year?”
Based on the responses of approximately 3,000 REALTORS® who answered this question in the August 2018 REALTORS® Confidence Index Survey, the median expected price change in the next 12 months nationally is 2.1 percent, a slower price appreciation compared to the 4.0 percent average during the January through May 2018 surveys (2.5 percent in July 2018 and 3.0 percent in August 2017).
The chart below shows the median expected price change across the U.S. states based on the June, July, and August 2018 surveys of REALTORS®. The median expected price growth ranges from no change to five percent across the states.
REALTORS® who responded to the survey expect prices to typically increase in the state at four percent in Idaho, Nevada, Utah, Arizona, Alabama, and Delaware. Read more…