Dive Brief:
-
Home prices will increase just slightly over the next year, by an average of 3.5%, members of the National Association of Realtors predicted in September.
-
In the association’s August 2014 Realtor Confidence Index Survey, Realtors said home prices will rise by as much as 6% in Florida, Hawaii, and Washington, DC—and a comeback is predicted for Great Lakes states.
-
Their predictions are slightly more modest than those of their association’s chief economist, Lawrence Yun, who said he expects home prices to grow by 4% to 5% over the next year, and by Capital Economics, whose economists expect growth in the range of 4%.
Dive Insight:
Home builders displayed a bit more confidence in the most recent survey by the National Association of Home Builders, which reported builders are more optimistic about the housing market than they have been since 2005.