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Home Value Appreciation To Exceed 5 Percent Through 2013
Austin Gross / Zillow / May 7, 2013
Our most recent Zillow Home Price Expectation Survey (ZHPES) results were released this morning. The survey asks professional forecasters to provide predictions for housing market growth in the near term. The average prediction for appreciation in 2013 is 5.4 percent, with the lowest projection at 3 percent depreciation and the highest at 10.1 percent appreciation. This edition of the survey was compiled from 105 responses, including the projections of economists, market and investment researchers and real estate experts.
Figure 1 (below) shows the forecasted, cumulative home price changes by quartile among panelists. It shows that, while still below the pre-bubble trend line, respondents on average expect us to return to it by 2013. This is a substantial change from last quarter’s estimate where the median expectation to return to the trend line was 2017.