Respondents from the states of Washington, Oregon, Idaho, Nevada, Utah, Wyoming, Colorado, Rhode Island, and the District of Columbia expect the highest price growth in the next 12 months.
The states with the highest estimated median property values in 2017 are Hawaii ($637,892), District of Columbia ($605,756), California ($522,431), Massachusetts ($396,992), and Colorado ($342,967).
Mortgage rates fell to 4.42 percent this February, down 0.2 percent compared to 4.43 percent a year ago.
Housing demand is strong where employment is also growing robustly.
The NAR Research team and realtor.com partnered to do an analysis of affordability at different income levels for all active inventory on the market.
Eighty-nine percent of respondents reported that home prices remained constant or rose in March 2018 compared to levels one year ago.
During the December 2017–February 2018, properties typically sold within one month in Washington, California, Nevada, Utah, Colorado, Nebraska, Minnesota, Michigan, Kentucky, New Hampshire, Massachusetts, and the District of Columbia.
Lack of homes available for sale and the concomitant rise in prices appears to be sidelining many first-time potential homebuyers in 2018.
Despite rising prices, the share of investor and vacation home buyers has held steady in the past two years.
A healthy economy and the solid pace of job creation continues to drive homebuying demand.
Search Economists' Outlook