"Don't hold your breath!" That's the news from Clear Capital. They are saying (and I agree with them), that at current price increases, the peak year of 2005 was the highest in pricing we will see until about 2021. prices advanced dramatically in 2013, fueled by the lowest interest rates we have seen in many years, a diminished inventory, and the general desperation of buyers to "get into the market before things go crazy again." That is pretty much over, and folks are now looking with a much more sober view at the price it takes to buy real estate versus the cost of rents. In addition, people are moving from large homes to more modest homes and condos, and these trends have yet to take full effect, with many "white elephants" destined to come on the market in the next few years.
The message to take away from this is, "don't push the price" if you're a seller, and stay in close touch with your agent, if you have one. if not, watch the trends and closed sales very closely (available at various sites: Redfin, Zillow, Realtor.com, and so on) for your area, and don't try to squeeze the very last dollar out of your property.
This year will be a year of change for the marketplace, and we will undoubtedly see some of the volatility that's been reflected in recent days in the stock market.