Well, I think it's great when people ask about statistical information with regard to the market. I've just recently been looking closely at all of the general and specific information about all of the factors that need to be considered when answering your question. i'm going to try NOT to be too wordy here!!! :)
While our absorption rate is showing we may be on the tipping point of a seller's market again, and the other pluses and minuses are in the right places with regard to price increases and inventory decreases, we're still not out of the woods.
I am CAUTIOUSLY optimistic about where the numbers are headed, BUT (and I can't stress this enough) BUT we don't have a crystal ball. We, as experts in our industry of real estate never dreamed we'd be where we are now. So, to say we can effectively prognosticate about where the market will be in 3-5 years is a set up for failure.
Real estate is a LONG TERM investment that you can live in, unlike stocks. :)