Market Update & Newsletter
"Knowledge of the market updates and understanding the changes in the economy gives you an edge on making smart investments and competitive advantage over others."
-James Abdelmalek
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The Future Looks Great for Home Price Appreciation! The Fannie Mae & Pulsenomics Home Price Expectations Survey is out...
- Fannie Mae & Pulsenomics released their results for their Q4 Home Price Expectations Survey.
- This survey is a combination of over 100 of the top housing experts in the country.
- Overall, the consensus is that home prices will rise by an average by 2.4% next year AND OVER 25% OVER THE BEXT 5 YEARS!
- This is the average, which means that there are many that are pessimistic, while others are optimistic.
- Often times this causes the survey to undershoot appreciation… By example:
The previous 2023 survey showed that there was an expectation for 3.3% appreciation, which was revised to 5.9% in this latest report.
Other important notes on this survey:
a) The most pessimistic quartile believes that homes will appreciate by over 10% over the next five (5) years.
b) The most optimistic quartile believes that homes will appreciate by over 40% over the next five (5) years.
c) Almost 50% believe we will get a recession in the first ½ of 2024, which would cause mortgage rates to decline, and likely cause appreciation to be even higher.
d) This is the same survey that won THREE (3) CRYSTAL BALL AWARDS from and our estimate for 2023 of 6.8% appreciation appears to be right on track!
e) We believe we will see appreciation in 2024 @ 4.5% to 5%.
Why is this important?
I believe that building wealth through homeownership is one of the 4 major concerns that clients have when purchasing a home.
If in January of 2024 each of my client home buyers purchases a home for $1M, and homes appreciate @ 5% for the year > That is an added $50,000 in wealth that all my client home buyers build upon in years to come... AND... They get to live in the asset while building wealth from it!
