There is some excellent data reported in DSNews.com that speaks to the housing market, projected appreciation, inventory levels and more valuable information about market trends and economic predictions in the years to come. In summary, things are looking up and it is an excellent time to list because inventory levels are lower and buyers are able to get great loans. Buyers might consider purchasing while interest rates are so low and before prices begin to climb.
Excerpts from the article: “For its report, Zillow and Pulsenomics surveyed a nationwide panel of 118 economists, real estate experts, and investment and market strategists to get their thoughts on future home values and housing market policies.
On average, the panel forecasts price growth of 4.6 percent in 2013 and 4.2 percent in 2014. More moderate growth is expected after that, with annual appreciation rates between 3.6 percent and 3.8 percent for 2015, 2016, and 2017, leading to an average 4.1 percent growth annually for the next five years.
According to Zillow, this is the first time the predicted average annual growth rate for the next five years has surpassed pre-bubble levels since the survey was created.”