Lawrence Yun, chief economist of the National Association of Realtors said: "This time next year, there could be a 10% price appreciation. I would not be surprised to see that."
During the same week, Morgan Stanley came out with a housing report that stated where they believed housing values were headed over the next eighteen months:
"We estimate a drop of 5 - 10% more."
Which direction are prices headed? As we previously stated, there are opinions on both ends of the argument.
However, if we look at the Home Expectation Survey, which asks a distinguished panel of over 100 Economists, investment strategists, and housing market experts to give their 5 year expectations for future home prices in the United States, we see the average cumulative appreciation expected by the end of the next year (2013) is only .9%.
Should you sell now or wait? Does it make sense to delay your move for 18 months in order to get less than 1% increase in your selling price? Only you can answer that question.