Thirty-seven percent of surveyed real estate professionals nationwide expect home values to increase; Sixty-four percent disapprove of Obama’s performance as President; Mitt Romney edges out Barack Obama
HomeGain, one of the first companies to provide free instant home valuations online, announced the results of its nationwide first quarter 2012 home values survey. Over 400 real estate agents and brokers and over 1,700 homeowners were surveyed. We also released the regional results of the first quarter 2012 HomeGain home values survey.
Real estate professionals have become more optimistic about the direction of home values than homeowners. Thirty-seven percent of real estate professionals expect home values to increase, up from 15 percent last quarter. Twenty-five percent of homeowners expect home values to increase, up from 15 percent last quarter.
Twenty-two percent of real estate professionals expect home values to decrease in the next six months, down from 42 percent from last quarter. Twenty-nine percent of homeowners expect home values to decrease in the next six months, down from 37 percent from last quarter.
Forty-one percent of real estate professionals and 46 percent of homeowners believe home values will stay the same in the next six months.
According to surveyed agents and brokers, 77 percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, 62 percent of home buyers believe homes are overpriced.
“Real estate professionals have grown more optimistic regarding the direction of home prices, especially in the states that have been hardest hit in the past few years, like Arizona, Nevada and Florida and also in states that have done comparatively well, like Massachusetts and Virginia.” said Louis Cammarosano, General Manager of HomeGain.
Fifty-two percent of agents and brokers surveyed indicated that they “strongly disapproved” and 14 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 66 percent disapproval rating, an increase of two percent in the disapproval rating of agents and brokers surveyed in the first quarter of 2011. In the fourth quarter of 2011, the President had a 70 percent disapproval rating among agents and brokers.
Forty-one percent of homeowners “strongly disapproved” and 15 percent “somewhat disapproved” of the President’s performance, earning him a 56 percent disapproval rating. The President had a 60 percent disapproval rating last quarter among surveyed homeowners with 44 percent “strongly disapproving.” The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain First Quarter 2012 Home Values Survey indicated that the President’s average disapproval rating was 52 percent with an average of 42 percent “strongly disapproving” of his performance.
Below are the top states where real estate professionals and home owners think home prices will rise and fall over the next six months.
Top 10 States Where Real Estate Agents and Homeowners Think Home Prices Will Go Up in the Next Six Months:
Top 10 States Where Real Estate Agents and Homeowners Think Home Prices Will Go Down In the Next Six Months:
Top 10 States Where Real Estate Agents and Homeowners Approve of Barack Obama’s Performance as President:
Top 10 States Where Real Estate Agents and Homeowners Disapprove of Barack Obama’s Performance as President:
The survey was conducted from March 6 – March 15, 2011.
View all prior HomeGain national and state home prices surveys.
Set forth below are the results of the first quarter 2012 and fourth quarter 2011 national home values surveys as well as the results of the first quarter 2011 survey. Also set forth below for selected questions is the national home owner response data for the first quarter of 2012. Click on each question to see complete results:
Questions and National Results:
- Have home prices increased, decreased or stayed the same in the last year?
- On average, what do homeowners believe that their home is worth?
- How do buyers feel that homes for sale are priced?
- What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
- What is the average difference in price between what a home is listed at and what a home sells for?
- In the next six months, will the values of homes in your market increase, decrease or stay the same?
- What percentage of homes for sale are foreclosures in your area?
- What is the average home price in your area?
- What percentage of your clients are first-time buyers?
- How do you think Barack Obama is performing in his role as President?
- If the Presidential election were held today, who would you vote for?