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REALTORS® generally expect a modest increase in prices in the next 12 months , with the median expected price change at about 4 percent. This is based on responses gathered from the August-October 2013 REALTORS® Confidence Index Survey. About 3,000 REALTORS ® respondents answer the survey each month. See the October report at http://www.realtor.org/reports/realtors-confidence-index.
The graph below shows the median expected price change across the states which are grouped into those with “low”, “middle” and “high” price expectations[1]. States in the West and in the South expect the highest price increase in the range of about 4-8 percent. Tight inventory continues to bolster prices in these areas.
[1] The median expected price increase at the state level is based on the last 3 surveys to increase the sample size for each state.
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