We also account for tax savings (mortgage - interest and property taxes), and for
the expected change in both home prices and rents over a four - year forecast period [Exhibit 2].
Not exact matches
Overall, we
expect a 6 % increase
in the S&P Case - Shiller 20 - City
Home Price Index (December to December %
change)
in 2014.
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Home price growth will stay positive, but
in a
change from the last few years,
prices are
expected to rise only 1 to 3 percent, a significant downward shift from the annual increases of 6 percent or more over the last half - dozen years or so.
Those surveyed, as well, anticipate
home prices will continue to rise both one year and five years from now,
expecting a 5.1 percent
change in prices in the next year — the highest ever recorded
in the survey.
The lowest median
expected home price change was 3.02 percent
in the Midwest.
With the median
home price of existing
homes at $ 246,800
in December 2017 (cumulative
change of 60 percent since January 2012), and with fewer inventory of
homes for sale at their lowest level since January 1999 (3.2 months» supply), REALTORS ®
expect prices to continue to appreciate
in the next 12 months.
With regard to longer - term expectations, the average (median)
expected annualized
change in home prices over the next five years was only 2.9 percent (2.4 percent median).
Expectations differed by region, with the highest median
expected home price change of 4.77 %
in the South.
The lowest median
expected home price change was 3.02 %
in the Midwest.
Ryan discusses the death of Osama Bin Laden; Ryan reviews the economic news of the week; Ryan notices the correlation between increased
home sales and interest rate drops; Louis notes we can't
expect the housing market to be supported by further decreases
in rates as they are already near historic lows; Ryan explains that interest rates
change once every four hours; Ryan notes the difference between getting a quote and being locked
in to an interest rate; Ryan advises the importance of keeping
in touch with your mortgage lender; Louis notes that interest rates
change a lot faster than
home prices; Ryan notes that the consumer confidence was up, Ryan and Louis discuss the Fed's decision to keep interest rates where they are and to continue the $ 600 billion QE2 program; Ryan and Louis discuss the Fed's view that inflation is nascent; Louis notes that not only does the Fed not see inflation that exists but disclaims any responsibility for it; Louis asserts that there is a correlation between oil
prices and Fed policy; Louis discusses Ben Bernanke's assertion that the Fed can't control oil
prices but that they somehow can control the impact of higher oil
prices on the rest of the economy; Louis also remarks on Bernanke's view of the dollar - the claim that a strong dollar can be achieved through the Fed's current policy as it is their belief that they are creating a sound economy and therefore a sound dollar; Louis notes the irony of the Fed chastising Congress» spendthrift ways — if the Fed did not monetize the debt, Congress could» nt spend; Louis noted that as Bernanke spoke the
prices of gold and silver rose as it seemed that the Fed has no interest
in cutting off the easy money; the current Fed policy will keep interest rates low; Ryan notes that the Fed knows that they can't let interest rates rise because of the housing mess; Louis notes that the Fed has a Hobson's Choice - either keep rates low or let interest rates rise and cut off the recovery.
Overall, we
expect a 6 % increase
in the S&P Case - Shiller 20 - City
Home Price Index (December to December %
change)
in 2014.