Survey Finds Americans are Confident Home Prices Will Rise

Homes in a suburb of Austin, Texas.

Homes in a suburb of Austin, Texas. Shutterstock

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The findings are part of Gallup's latest Economy and Personal Finance poll.

The proportion of Americans who believe home prices in the area where they live will rise during the next year is approaching levels not seen since before the Great Recession, according to new survey results.

Gallup's annual Economy and Personal Finance poll found that 64 percent of respondents expect average home prices to increase in their community during the next year. That's up from 55 percent in 2016.

This year's figure is the highest since 2005 when Gallup began asking Americans to predict whether they think home prices in their area will increase, stay the same or decrease. In 2005, the figure was 70 percent.

People in the western U.S. were the most bullish this year, compared to other regions, in their expectations about home price increases. Among respondents in the region, 79 percent said they expected prices to rise. That's up 15 percentage points from 2016.

The percentage of Americans in other regions that expected to see home price increases ranged from 56 to 64 percent.

Gallup's poll was conducted by phone from April 2 to 11. For results based on the full national sample of respondents, the margin of error is +/- 4 percentage points at the 95 percent confidence level.

More information about the results can be found here.

Bill Lucia is a Senior Reporter for Government Executive's Route Fifty and is based in Washington, D.C.

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