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Home Prices To Return To A More Normal Pace

These days, home buyers are feeling a little cautious about the housing market. Its recent fluctuations have made them wonder whether now is the best time to buy a house. After all, where are things headed from here? Well, one recent survey of industry experts and economists tried to answer that question, specifically with regard to home prices. Their answer could help reassure hesitant home buyers. That's because survey respondents expect prices to remain relatively flat this year. They don't foresee a home price crash. In fact, the survey found participants believe prices will slow about 1.5 percent this year. Then, in 2024, home values will pick back up, but return to a more historically normal pace. Respondents said home prices should see an average increase of about 3.5 percent per year through 2027. That means the price volatility of the past few years is coming to an end and, for the foreseeable future, price increases should remain more consistent and stable.




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