Project Property Prices Will Increase
Even though home prices are going up nationally, some people are still worried they might come down. Here's what the data actually shows.
Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline in the next year. But what do industry experts project?
Every major housing forecast calls for continued price appreciation. The data consistently shows that while the pace of price increases may moderate, actual declines are not expected in most markets.
What's driving prices up? The fundamental issue remains supply. We simply don't have enough homes to meet demand. New construction hasn't kept pace with population growth for years, and that deficit doesn't disappear overnight.
For the New Jersey and New York markets specifically, the outlook is even stronger. Limited land availability, strong employment centers, and excellent transit access continue to support property values across our service area.
If you've been waiting on the sidelines hoping for a price drop, the data suggests that strategy could cost you. Every month you wait, prices are likely to be higher.
Premier Homes tracks these trends daily across all 8 of our MLS markets. Whether you're buying your first home or adding to your investment portfolio, we can help you make data-driven decisions.
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