According to a survye of 100+ real estate experts, economist, etc., done by Pulsenomics, real estate price appreciation will be 6.7% for 2013. Thereafter, appreciation levels will be at more of a subdued 4.7%. They are also expecting that cumulative appreciation will be 23.7% by year end 2017. Worse case numbers,, (the bearish members of the survey) would still indicate cumulative appreciation of 13% by year end 2017.
I remember, before the "heady" appreciation of 2004-2006, that the average appreciation of 3-4% was a "normal" number! It appears that the snap-back increased prices of real estate, are starting to level off. More data that we are approaching market equaliberium.
In #Ukiah or #Willits or #Mendocino county, it will be interesting to see what the real number ends up being. Would like to hear if anyone thinks that prices are starting to level off or are we continuing to see prices increase at the same levels of the last year.