Many homeowners and especially sellers are watching the economy grow and probably wondering if their home value is on the rise again.
The popular real estate blog, Keeping Current Matters averaged the opinions of 111 leading experts, from academics to CEOs, the experts were asked their opinion of where home prices across the nation where going to be over the next five years. The following chart illustrates the aggregated data by percentage.
They all see it as going up after this year, but keep in mind, this is on a national level. Real estate is very location specific. Each state and city may see a a variation of this pattern or prices may increase at a slower or faster rate.
A large concern that remains in the real estate industry is the amount of shadow inventory, that is homes which are in the foreclosure process but have not hit the market yet. We know these homes will be on the market, and due to their financially distressed state they will be listed for a low value.
As these homes come on the market they may keep values from rising quickly, but once they hit the market they could sell quickly, especially to investors who are patiently waiting for a deal.