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REALTORS® projected prices to increase by 3.6 percent over the next 12 months (3.4 percent in June 2015; 3.4 percent in July 2014), according to the July 2015 REALTORS® Confidence Index Survey Report.9
The map shows the median expected price change in the next 12 months for each state based on the May–July 2015 RCI surveys.10 REALTOR® respondents from Colorado and Florida had the most upbeat price expectations, with a median expected price growth in the range of five to six percent. In Washington, Oregon, Nevada, Texas, and Georgia, the median expected price growth was four to five percent. Prices are expected to increase at a modest pace of less than three percent in many Northeast states.
9 A comparison of the expected price growth for the next 12 months compared to the actual price growth shows the expected price growth to be more conservative than the actual price growth, but both are generally headed in the same direction.
10 In generating the median price expectation at the state level, we use data for the last three surveys to have close to 30 observations. Small states such as AK,ND, SD, MT, VT, WY, WV, DE, and D.C., may have less than 30 observations.
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