Ever feel like the housing market is a rollercoaster that only goes up? Well, buckle up, because despite the doom and gloom in the headlines, we’re not on the verge of a free fall. In fact, according to the smarty pants over at Fannie Mae’s Home Price Expectations Survey, the market is more like a gentle kiddie ride.
Here’s the scoop: Over 100 top-notch experts, with their crystal balls polished and ready, agree that home values aren’t going to plummet. Instead, they’re expected to grow steadily over the next five years. But don’t expect the wild, hair-raising jumps of the past. We’re talking about a smooth, more moderate pace that won’t give your wallet whiplash.
The Average Forecast? A comfy 3.3% annual growth. Not too hot, not too cold.
Feeling Optimistic? Some are betting on growth of up to 5% per year. Party hats ready. Worried about a Downturn? Even the gloomiest forecasts still predict a 1.3% annual increase. So, no crash landing in sight.
Why the stable outlook? Three words: solid lending standards. Add in low foreclosure rates and strong homeowner equity, and you’ve got a recipe for a steady-as-she-goes market.
Bottom Line: If you’re playing the waiting game for prices to plummet, you might want to grab a snack because it could be a long wait. The smart move? Zoom in on what’s happening *locally*.
Curious about your own backyard? Let’s dive into the details by zip code. Reach out and let’s make sense of the numbers together.
Read the Original Article Here: The Truth About Where Home Prices Are Heading
