What Experts Project for Home Prices over the Next 5 Years
If you're thinking of buying a home, you want to know what experts predict for home prices in the future and how that might affect your investment. Here’s what the experts are projecting.
Experts Project Ongoing Appreciation
Pulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the panelists project will happen with home prices over the next five years. Here are those expert forecasts saying home prices will go up every year through 2027 (see graph below):
Estimated Home Price Performance December to December, as Forecasted in Q3 2023
4.18%
3.79%
3.32%
3.24%
2.17%
2023
2024
2025
2026
2027
Source: HPES
If you’re someone who was worried home prices would fall because of stories you’ve read online, here’s the big takeaway. Even though home prices vary by local market, experts project prices will continue to rise across the country for years to come. And these numbers indicate the return to more normal home price appreciation. And while the projected increase in 2024 isn’t as large as 2023, it’s important to recognize home price appreciation is cumulative. This is a good example of why owning a home is a choice that wins big over time.
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