Appreciation that real estate market witnessed in previous year is sure to continue, but it might not happen at the same pace, as mentioned in a latest report, which has established this finding taking into account 1000 above counties and around 340 metro areas.
According to this forecast, which takes into consideration the expected trends of real estate market till the end of 2014, the appreciation is expected to be 5.1%, which is a progress considering the 4.8% appreciation seen in the last quarter. This also marks sixth quarter in a row where forecast appreciation is shown in index.
The constant appreciation surely indicates the overall state of property market, however it should also be noted that the increase we are witnessing now shows only slight improvement from the national forecast of last quarter.
Although majority of areas in country will expectedly see appreciation in price, there will be a few areas showing decline as well. Talking about the cities which have shown the most appreciation, California definitely tops the list, while Atlantic City NJ, Fayetteville and Kingston are among the weakest markets with least price appreciation.
This report further affirms the claims made by experts in the previous year, as they had already predicted the appreciation rate to fall. However, hopes are still high among real estate community, as they expect to see a considerable rise in the start of year 2015 which, according to them, will exceed the appreciation witnessed in May 2007 and it will continue to rise significantly till the last quarter of 2018.