Where REALTORS® Are Bullish on Prices

May 2, 2016

REALTORS® expect home prices to grow by 3.7 percent nationwide over the next 12 months, according to the March 2016 REALTORS® Confidence Index, based on the responses of more than 4,000 REALTORS® on their recent transactions.

However, a growing number of REALTORS® expect home prices to soon moderate as rising prices the past few years have made homes less affordable, according to the survey.

That said, a tight supply of homes for sale is fueling price increases in many markets.

REALTORS® in Washington, Oregon, Colorado, and the District of Columbia are the most optimistic about home price growth.

Respondents in those states expect home prices to increase between 5 percent and 7 percent over the next 12 months. REALTORS® in California, Minnesota, Michigan, and Florida also expect strong price growth this year.

Source: March 2016 REALTORS® Confidence Index