Thinking about buying a home? If so, you’re probably wondering: should I buy now or wait? Nobody can make that decision for you, but here’s some information that can help you decide.

What’s Next for Home Prices?

Each quarter, Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES). It asks more than 100 experts—economists, real estate professionals, and investment and market strategists—what they think will happen with home prices.

In the latest survey, those experts say home prices are going to keep going up for the next five years (see graph below):

Here’s what all the green on this chart should tell you. They’re not expecting any price declines. Instead, they’re saying we’ll see a 3-4% rise each year.

And even though prices aren’t expected to climb by as much in 2025 as they are 2024, keep in mind these increases can really add up over time. It works like this. If these experts are right your home’s value goes up by 3.78% this year, and grow another 3.36% next year. And another 3.87% the year after that.

What Does This Mean for You?

Knowing that prices are forecasted to keep going up should make you feel good about buying a home. The numbers show how a typical home’s value could change over the few years using expert projections from the HPES. Check out the graph below:

In this example, imagine you bought a home for $400,000 at the start of this year. Based on these projections, you could gain $83,000 in household wealth over the next five years as your house value increases.

Bottom Line

Let’s team up to start looking for your next home today. Learn more about the Real Estate Market with The Hutch Team and find out about properties in Alabama