Home prices likely will continue to rise over the next year as buyer demand continues to outstrip supply in many markets, according to the August 2017 REALTORS® Confidence Index.
Read more: Fewer New Homes in Pipeline Pushes Up Prices
That bodes well for homeowners, but buyers are likely going to face even higher prices in the coming months as well as continued competition from the limited number of homes for sale, according to the report.
Thirty-nine percent of properties in August sold at or above the original listing price, up from 34 percent a year ago, according to the report.
REALTORS® in Washington, Nevada, Utah, and Colorado are expecting some of the most price growth over the next 12 months, with expectations averaging more than 5 percent in that time.
View the map to see REALTORS®’ median expected price change over the next 12 months.
Source: “August 2017 REALTORS® Confidence Index,” National Association of REALTORS® (August 2017)
