Even With San Francisco Market Near A Peak, Many Expect More Growth Ahead
With all the talk of bubble this, bubble that (did you cast your vote?), which I do not think we’re in, I thought it important to share a little report from the Goliath, National Association of Realtors.
REALTORS® generally expect a modest increase in prices in the next 12 months , with the median expected price change at about 4 percent. This is based on responses gathered from the August-October 2013 REALTORS® Confidence Index Survey. About 3,000 REALTORS ® respondents answer the survey each month. See the October report at http://www.realtor.org/reports/realtors-confidence-index.
The graph above shows the median expected price change across the states which are grouped into those with “low”, “middle” and “high” price expectations. States in the West and in the South expect the highest price increase in the range of about 4-8 percent. Tight inventory continues to bolster prices in these areas.
–Expected Price Growth Strongest In West And South Markets [Realtor.org]