Posted on November 14, 2013 - 08:53 PM
by Gary Kubovcsak
Home Values Projected to End Year 6.7 Percent Higher Than 2012. More than 100 forecasters said they expect the U.S. home values, as measured by the Zillow Home Value Index (HVI), to end 2013 up an average of 6.7 percent year-over-year, according to the latest Zillow Home Price Expectations Survey, before slowing over the next five years. Most panelists also said they would like to see the federal government maintain a considerable role in the mortgage market. The survey of 108 economists, real estate experts and investment and market strategists was sponsored by leading real estate information marketplace Zillow Inc. and is conducted quarterly by Pulsenomics LLC
While appreciation is expected to remain strong through the remainder of this year, the pace of home value growth is predicted to slow considerably through 2018. Panelists said they expect appreciation rates to slow to roughly 4.3 percent next year, on average, eventually falling to 3.4 percent by 2018.
Based on current expectations for home value appreciation over the next five years, panelists predicted that overall U.S. home values could exceed their May 2007 peak by the first quarter of 2018, and may cross the $200,000 threshold by the end of 2018.
2013-11-07 11:37 National Mortgage Professional Magazine
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