Local Market Monitor

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ECONOMIC OUTLOOK

Over twenty years of proven expertise and trend analysis in evaluating residential property values.

LONG-TERM HOME PRICE FORECAST

Local Market Monitor's Long-Term Home Price Forecasting Model forecasts home price changes two and three years into the future. Our forecast depends on three key observations:

Home prices behave in different ways, depending on the condition of the local home price cycle.
Local home prices are affected by the state of the national real estate cycle.
Home prices behave differently when local markets are heavily over-priced.

The state of the national real estate cycle has an important effect on local home prices, because it includes economic conditions such as job and income growth and financial conditions such as interest rates and lending practices. We forecast whether the national cycle will be in Expansion or Contraction during the second and third year of our home price forecast.