In the monthly REALTORS® Confidence Index Survey, the National Association of REALTORS® asks members “In the neighborhood or area where you make most of your sales, what are your expectations for residential property prices over the next year?”
REALTORS® who responded to the November 2015 survey expected prices to increase by 3.2 percent over the next 12 months (3.2 percent in October 2015; 3.0 percent in November 2014). REALTORS®expect the recent strong price growth to moderate as rising prices have made homes “unaffordable” for many, according to the November 2015 REALTORS® Confidence Index Survey Report.
The map shows the median expected price change in the next 12 months for each state based on the September – November 2015 RCI surveys. REALTOR® respondents from Washington, Oregon, Wyoming, Colorado, and Florida were the most upbeat, with a median expected price growth in the range of four to five percent. Compared to expectations in previous months, no state had a median expected price growth of over five percent, an indication that prices are expected to rise at a modest pace in the next 12 months.