REALTORS® expect home prices to increase modestly in the next 12 months, with the median expected price increase at 3.4 percent [1]. The expected price change is modest compared to the strong price growth in 2012-2013. Local conditions vary, but concerns about how borrowers are finding it difficult to obtain a mortgage and weak job recovery appear to be underpinning the modest price expectation.
The map below shows the median expected price change in the next 12 months by state of REALTOR® respondents in the May – July 2014 surveys.
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