NAR’s January 2017 survey on realtors’ confidence index revealed that the median expected change in home prices for the next 12 months is 3.5%. This means half of the participants expect home prices to be higher by less than 3.5%, while the other half expects it to be higher by more than 3.5%.
Most of the states have a greater than 2% or 3% median expected price change. Washington, Oregon and Colorado ranked the highest with its median expected price change higher than 4% or 5%; North Dakota, West Virginia and Alaska have the lowest with 0% to 2%.
During the last quarter of 2016, Washington had the highest median expected price change for the West with greater than 5.0%; Michigan was the highest for selected Midwest states with greater than 3.0%; Florida for select South states with 4.0%; and almost a tie for select Northeast states Massachusetts, New Jersey, New York and Pennsylvania with greater than 2% and at or greater than 3%.
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Realtors expect this year to have moderate home prices, according to the National Association of Realtors.