Each quarter, Pulsenomics surveys a

“distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 5-year expectations for future home prices in the United States.”

Here are the results of their latest survey:

Price appreciation/depreciation expected over the next five years:

2012:   -.4%

2013:   +1.3%

2014:   +2.6%

2015:   +3.2%

2016:   +3.5%

The average pre-bubble (1987-1999) annual appreciation was 3.6%