Interest rates for a 30-year fixed rate mortgage have climbed from 3.95% in the first week of January up to 4.61% last week, which marks a 7-year high according to Freddie Mac. The
99 Of Experts Agree Home Prices Will Increase
Some believe that the combined effects of the new tax code and rising mortgage rates will have an adverse impact on residential real estate prices in 2018. However, the clear majority of recently surveyed housing experts believe that home values will continue to rise this year.
What is the Home Price Expectation Survey?
Each quarter, Pulsenomics surveys a nationwide panel of economists, real estate experts and investment & market strategists. Those surveyed include experts such as:
Daniel Bachman, Senior Manager, U.S. Economics at Deloitte Services, LP
Kathy Bostjancic, Head of U.S. Macro Investors Service at Oxford Economics
David Downs, Real Estate Finance Professor at VCU
Edward Pinto, Resident Fellow at American Enterprise Institute
Albert Saiz, Director at MIT Center for Real Estate
Where do these experts see home values headed in 2018?
Here is a breakdown of where they see home values twelve months from now:
21.6% believe prices will appreciate by 6% or more
71.6% believe prices will appreciate between 3 and 5.99%
5.7% believe prices will appreciate between 0 and 2.99%
Only 1.1% believe prices will depreciate
Almost ninety-nine percent of the top experts studying residential real estate believe that prices will appreciate this year, and over 93% believe home values will appreciate by at least 3%.
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According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in