We have a lot of Miami property owners contacting us asking if now is the time to sell. As with all real estate, it’s a local market, so it’s important to understand what’s going on in your neighborhood with comparable properties. We are always happy to prepare for anyone interested a free comparable analysis of their Miami property.
Meanwhile, here is a great analysis from our KCM blog that is a bit more general but helpful.
Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.
Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.
The results of their latest survey:
Home values will appreciate by 3.7% over the course of 2016, 3.3% in 2017 and 3.2% in the next two years, and finally 3.1% in 2020 (as shown below). That means the average annual appreciation will be 3.3% over the next 5 years.
The prediction for cumulative appreciation slowed slightly from 21.6% to 17.7% by 2020. The experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 10.9%.
Bottom Line
Individual opinions make headlines. We believe the survey is a fairer depiction of future values.
If you are wondering if now is the time to sell your Miami property, let’s talk and have us prepare a more comprehensive analysis for you and your particular property.
