That’s according to a poll of analysts by Reuters that predicts an average 5.2% rise for this year, 2% in 2016 and 2.3% for 2017.
These are up from 3.4%, 1.3% and 1.7% predictions for those years, respectively, which was revealed in a similar poll in June.
While higher prices may be good news for homeowners who are holding on to their properties, for those who wish to sell (and buyers) it may be a tougher environment.
The analysts expect home sales to slow due to the high cost of property deterring potential buyers.
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The slowdown in the economy and concern about global issues is not going to hamper the rise in home prices, although sales may stall.