HomeGain Releases 3rd Qtr Washington Home Prices Survey
Last, HomeGain, the first website to provide free instant home values, released the national and regional results of our home prices survey of 1,084 HomeGain members. We asked their opinions on home values and of Obama’s performance as President. On this real estate blog we published the complete national and regional third quarter results.
Earlier this week we published the results of the California home prices, Texas home prices , Florida home prices surveys. Later in the week, we published the Massachusettes home prices survey data, the New York home prices survey data, the New Jersey home prices survey data, the North Carolina home prices survey, the Illinois home prices survey the Georgia home prices survey data, the Colorado home prices survey data, the Virginia home prices survey and the Arizona home prices survey.
Today we are releasing the Washington home prices survey data.
Washington homeowners, like many homeowners across the nation recently, have increased their their valuation expections. In the second quarter Washington home values survey 77% of Washington home owners believed that their homes should be priced higher than their Realtors’ recommended listing price vs. 88% who so believed in the current survey. (See question 2)
As Washington home owners are tempering their home valuation expectations, a greater percentage of Washington home buyers now believe that homes are over priced. Only 8% of Washington home buyers now believe homes are fairly priced vs. 23% in the second quarter. Seventy-nine percent of Washington home buyers believe homes in their state are overpriced vs. 70% who so believed three months ago. (See question 3)
Forty six percent of Washington Realtors predict stabilizing home prices in the next six months vs. 67% of Washington Realtors who predicted price stabilization three months ago. Thirty-eight percent of Washington Realtors in the current home values survey think that Washington home prices will decrease in the coming six months vs. 17% in the second quarter. (See question 6)
Fifty-four percent of Realtors in the Evergreen State disapprove of Obama’s performance as President vs. sixty-six percent of Washington Realtors who approved of Obama’s performance as President in the second quarter.
Set forth below is the first, second, and third quarter Washington home prices survey results with the national data in parenthesis: