Experts have been telling us for the past 6 months to a year that now is a great time to buy! Prices are still low as are mortgage rates. With a recent survey that was conducted by financial technology company, Marco Markets, the prime time to buy while prices are low may be running out, but is looking positive for current home owners.
The June 2011 Home Price Expectations Survey questioned 108 real estate experts, economists as well as market and investment professionals to get their opinion on where housing prices are going. The average of all 108 opinions concluded that housing prices will continue to depreciate 3.52% in 2011.
However, over the next four years, the projected outlook seems optimistic:
2012: prices will appreciate .46%
2013: prices will appreciate 2.18%
2014: prices will appreciate 2.92%
2015: prices will appreciate 3.47%
That being said, taking into account the 2011 depreciation, the projected appreciation throughout 2015 will be 5.71%.