By John Womeldorf, Local Williamsburg VA Real Estate Agent
If you’re planning to buy a home, one thing to consider is what experts project home prices will do in the future. While you may have seen negative news over the past year about home prices, they’re doing far better than expected and are rising across the country. And data shows, experts forecast home prices will keep appreciating.
Pulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the panelists project will happen with home prices over the next five years. Here are those expert forecasts:
- 2023: +5.5%
- 2024: +5.0%
- 2025: +4.5%
- 2026: +4.0%
- 2027: +3.5%
This means that if you buy a home today, you can expect it to be worth more in five years. Of course, there is always the possibility of a recession or other unforeseen events that could impact the housing market. But overall, the outlook for home prices is positive.
If you’re thinking about buying a home, it’s important to do your research and work with a qualified real estate agent to find the right home for you and your needs.
Are you a homeowner searching for someone innovative and committed to selling your home? Allow Mr. Williamsburg to tell your story. With my unique marketing approach, your home will be seen from your eyes, not described in a few sentences by someone who doesn’t know it well.
Curious in finding the value of your existing home? Ask me here.
Interested in learning more about neighborhoods in the Williamsburg area? Check out my resource on specific communities in the surrounding areas of Williamsburg and Hampton Roads here.
Looking somewhere other than Williamsburg? In addition to my affinity for Williamsburg, I have helped hundreds of folks find their dream home and community in areas outside of the ‘Burg, such as Yorktown, New Kent, Virginia Beach, Chesapeake, Suffolk, Isle of Wight, Poquoson, and Richmond. I’m committed to helping you find your perfect fit and the place you’re happy to call home. Fill out this form and I’ll get back to you so we can connect.
Want to learn more about what working with me is like? While I can tell you all day why I love what I do so much, hearing directly from previous clients is the best way to see this. To read real client reviews and learn more about what it’s like working with me on your team, visit my reviews page here.
Your real estate journey is just that…yours. I get that it’ll be unique. It needs a marketing plan and a committed real estate professional to guide you every step of the way. To talk further, you can reach me via phone or text at 757-254-8136 or through email at [email protected].
I look forward to serving your real estate needs and welcoming you to this place that I’m lucky enough to call home!