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How Fast Will Home Prices Rise?

By Bob Miller

Real Estate Sales Representative with Keller Williams Cornerstone Realty

April 25, 2013 10:47 PM

How Fast Will Home Prices Rise?

This is a very interesting study of economists' prediction of home prices over the next 4 years.

Home Price Forecasts

We are not crazy about the source of the study, since Zillow tends not to be too accurate. However, it does reflect what most markets are experiencing.

Economists Predict Home Value Appreciation Through 2017 to Exceed Pre-Bubble Norms

There also may be a fundamental cost basis for prices as well. While the housing bust with its excess inventory and distressed homes depressed prices over the last 4-6 years, the underlying cost of homes (materials and labor) has not decreased. Therefore, it seems natural that prices will rise more rapidly than the more normal trent line as builders create more homes at the underlying costs.

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Mary Yonkers

Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA

Erie/PA Real Estate Instructor

Interesting Zillow prediction. Perhaps some parts of country, but not western PA or NY. As you know we just keep the same pace no matter what's going on elsewhere. Good luck in sunny, central Florida.

Apr 25, 2013 11:13 PM

Joe Petrowsky

Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT

Your Mortgage Consultant for Life

Predictions like this are far to general to really have any meaning to most that see this information.

Apr 25, 2013 11:15 PM

Fernando Herboso - Associate Broker MD, & VA

Maxus Realty Group of Samson Properties - Clarksburg, MD

301-246-0001 Serving Maryland, DC and Northern VA

In my area the furloughs have started and I see that as a great impediment for accelerated growth. .we are too dependent on the Government

Apr 25, 2013 11:38 PM

Will Hamm

Hamm Homes - Aurora, CO

"Where There's a Will, There's a Way!"

Good Morning Bob, Not a fan of Zillow but someone needs to do some predictions. Hope you have a great day!

Apr 25, 2013 11:55 PM

Bob Miller

Keller Williams Cornerstone Realty - Ocala, FL

The Ocala Dream Team

Hi Mary you are right no booms in your area but no busts either. Western NY much the same as when left 35 years ago. Sooty you see it that way Joe. Obviously this is a local business but overall trends also can be interesting. Fernando,wear escort for your loss, but think it is time foursome constraint on how our taxes spent. Thanks Will, our sentiments exactly!

Apr 26, 2013 09:06 AM

Florida Tolbert Team Keller Williams Advantage

Keller Williams Advantage III Realty in Lake Nona - Orlando, FL

Keller Williams Land Luxury Division Specialist

My builders are buying land from me faster than ever before and our land prices are rising just like they did before in the last boom. The only difference is this time I am ready for it more than last. I am myself amassing land already as we all watch the prices rise again.

Apr 26, 2013 11:42 AM

Smart man Kevin! I started looking a lands a few months ago and have already missed a couple opportunities. Snoozed and loozed!

Apr 26, 2013 10:05 PM

Frank Laisch

Orlando, FL

"The Insurance Guy"

Bob, really good post. we are seeing it all over Florida. its a bidding war again. It beginning to feel like 2003-2004 again...

Apr 27, 2013 12:24 AM

Thanks Frank. We weren't here in 2003-2004 but we like how it feels now!

Apr 27, 2013 02:47 AM

How Fast Will Home Prices Rise?

How Fast Will Home Prices Rise?

This is a very interesting study of economists' prediction of home prices over the next 4 years.

We are not crazy about the source of the study, since Zillow tends not to be too accurate. However, it does reflect what most markets are experiencing.

Economists Predict Home Value Appreciation Through 2017 to Exceed Pre-Bubble Norms

Comments(9)

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