Q&A: Will My City See Appreciation in the Next 5 Years?
Question:With houses having fallen in price over the last few year, will {Minneapolis / Brooklyn Park / Crystal / Apple Valley / Chaska / St. Paul / Woodbury / etc} going to see appreciation in the next 5 years?
Answer: There is no crystal ball that will foretell the future but based on what I’m seeing and hearing in the market, we will have another 1-2 years of flat or declining prices before we see any sort of return to appreciation. When appreciation does return, it will be much more modest: 2%-5% per year vs. the 10%+ we had for several years. Interest rates and the economy are just two factors that could play a huge role in future house prices.
