Where are Home Values Headed?

Where values are headed, is a question I am often asked and where there is a lot of differing opinions. I am reprinting an article from KCM blog that discusses this questions. It appears that even the "experts" are all over the board on this one!

Locally, are values are up higher than the national average, take a look at yesterday's post if you missed it!

Buying or Selling a Home? Where Are Values Headed? Posted: 12 Aug 2013 04:00 AM PDT   Today, many real estate conversations center around housing prices and where they may be headed. Some believe rapidly rising prices have created a new ‘housing bubble’. Others believe that the sudden rise in interest rates will impact purchasing power to such a degree that it will force prices downward. There is no lack of opinions and there is absolutely no consensus. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then averages the projections of all 100+ experts into a single number. The results of their latest survey The latest survey was released last week. Here are the results: Home values will appreciate by 6.7% in 2013. The average annual appreciation will be 4.7% over the next 5 years The cumulative appreciation will be 23.7% by 2017. Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of over 13% by 2017. Individual opinions make headlines. We believe the survey is a fairer depiction of future values.