- The average year-ahead expected change in local home prices (collected in February 2020, largely before COVID-19) was 3.7 percent—a level roughly steady with last year. Five-year-ahead home price growth expectations averaged 2.1 percent (annualized), also steady with last year.
- Mean year-ahead rent increase expectations were 6.4 percent, down from 7.3 percent last year, but still noticeably higher than expected home price appreciation.
- The share of households expecting the average interest rate on a thirty-year fixed-rate mortgage to decrease climbed to 56 percent, up from 49.8 percent last year.
- Some 66 percent of respondents expect to buy their next primary residence if they move over the next three years, up from 64 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.