Zillow survey also finds that international buyers are not a major factor in home price appreciation
Expectations for overall home price growth are stronger now than they were a year ago, according to the 2017 Q2 Zillow Home Price Expectations Survey, results of which were released Wednesday.
A year ago, a panel of economists and housing experts predicted that home prices would rise 3.4% in 2017. Now, they expect to see a 4.8% increase. Their forecasts for home price growth in 2018 are also more optimistic now compared to last year.
The quarterly survey, sponsored by Zillow and conducted by Pulsenomics LLC, also asked more than 100 housing experts and economists about the impact of international buyers on the U.S. real estate market. Overall, international buyers have a modest effect on inventory and home values, according to the panelists. At the high end of the market, though, the respondents said international buyers have a major impact on home values.