The real estate market is difficult to predict with long term accuracy. There are a lot of variables that impact this market. The M2 is the best indicator of long term average and median pricing I’ve found, with a correlation of .88 to .92, generally. It also has around a 24 month lag time, meaning that the M2 leads price action in the macro in our region by about 24 months. This is great for long term investors but what about the short term?

(Re)introducing the Future Property Value Index, or the FPVI. This measures the difference the 30 day average closing price to original list price and the average under contract price to original list price. On 3 October 2023, this measure is 1.69, indicating there will be a 1.69% increase in the average price of a home in the next 3 to 5 weeks.