- The average year-ahead expected change in local home prices was 5.1 percent—higher than the 3.7 percent recorded last February (largely before COVID-19). Five-year-ahead home price growth expectations averaged 2.0 percent (annualized), steady with the past two years.
- Mean year-ahead rent increase expectations were 6.6 percent, slightly higher than the 6.4 percent level from last year.
- The share of mortgage borrowers who have refinanced in the last six months was 12.2 percent, significantly higher than 4.9 percent last year.
- Slightly more than 68 percent of respondents expect to buy their next primary residence if they move over the next three years, up from 66 percent last year.
The SCE Housing Survey, which has been fielded annually in February since 2014, is part of the broader Survey of Consumer Expectations. The interactive web feature below presents time trends for variables of interest for the overall sample as well as for various demographic groups. As in previous years, we are also releasing a detailed background report that describes the sample and presents summary statistics for a larger number of questions.
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