71 Percent of Americans Expect Home Prices to Rise Over the Next Year
The housing market has been tough for buyers in recent months; lack of inventory and high competition has driven up prices, which has led some buyers to question whether now is a good time to buy—or if they should wait until prices cool off.
Well, as it turns out, most Americans don’t think prices are going to cool down anytime soon.
According to a recent survey from Gallup, 71 percent of Americans believe the average home price in their area will increase over the next year—the highest percentage since Gallup started collecting data. And even though prices are currently high, according to the survey, the threat of higher prices in the future is making buyers look at the current market more favorably—with more than half (53 percent) saying now is a good time to buy a house.
So, what does this mean for you? Many signs point to home prices continuing to increase—so if you’ve been thinking about buying a home, now is a great time to make a move (and avoid paying more for a property in the future).
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