General Contractor · Torrance, CA · Member since 2008 · 74 posts · 2 votes
Since as far back as you want or as recent as you want. I've heard 3%, I've heard 4%, according to Shiller report, who knows what it would be. I'm looking for best guesses or personal opinions or even referenced quotes, anything you want to put out there.
Here is Ohio, over the long term, it's been 3%-5%. Of course, in any market the answer depends on the specific time frame. For example, in Ohio last year the "appreciation" was NEGATIVE 2.4%. We don't go up as fast as those wild markets in California and we don't come down as fast either.
I heard something to the effect of approx 5% for OR, or specifically the Portland area, although may be Eric Foster can help me out on this one it may be higher or lower given recent market circumstances in the US.
in south carolina last 5 yeiars appreciation rates in the center of the state ran 29 per cent. One of my small sf homes seems to average 7% and my triplex more like 12-11% (2650 sq. ft.) last quarter the apprecaition rate ran .8%. Definitely flat to slow right now.
If you look at that Case-Shiller data adjusted for inflation, you'll see that appreciation is strongly tied to inflation over the long term. In fact, over the long term, appreciation=inflation. There have been periods where prices have gone up faster than inflation, but they always reverted back to the long term trend.