HomeGain Releases 3rd Qtr Texas Home Prices Survey

Posted by: Louis Cammarosano on August 25th, 2009

Yesterday, HomeGain, the first company to provide free instant home valuations online, released the national and regional results of our third quarter home prices survey of nearly 1100 HomeGain current and former members. The survey asked their opinions on real estate values and what they thought of President Obama’s performance as President. On the HomeGain blog we published the full survey results.  Yesterday, we published the results of the third quarter California home prices survey

Today, we published the results of the third quarter Florida home prices survey and below the Texas home prices survey.

The national results of the first quarter survey of Realtors on home values painted a very pessimistic picture. The 1st quarter Texas survey data, however, revealed far less pessimism.  In the second quarter the national results indicated some improvement in the housing market, while Realtors in Texas believed their markets to be relatively stable

In the third quarter Texas home owners reduced their valuation expectations. Seventy-three percent of Texas homeowners in the third quarter believed their homes were worth either what their Realtors recommended or within 1-9% higher or lower vs. 45% who believed the same in the second quarter. (see question 2)

In the second quarter 49% of Texas home owners according to Texas Realtors believed their homes to be worth 10-30% higher than their Realtors’ recommended listing prices vs. just 23% of Texas home owners who in the third quarter survey believed their homes were worth 10-20% more than their Realtors’ recommended listing price. (see question 2)

Forty-six percent of home buyers in Texas now believe that home prices are over valued by less than ten percent vs. 27% who so believed in the second quarter Texas home prices survey. In the second quarter, thirty-two percent of Texas home buyers believed that home prices were over valued by 10-20% vs.  12% who now believe the same. (see question 3)

Forty-three percent of Texas Realtors now believe home values in their state will increase over the next six months vs. 24% who so believed in the second quarter. Seventeen percent of Texas Realtors realtors believe that home prices will decrease over the next six months vs. 24% who so believed in the second quarter. (see question 6)

In a dramatic divergence from the national results, President Obama’s approval rating among Texas Realtors came in at just 28% (vs. 42% nationally) with 60% of Texas Realtors “strongly disapproving” and 12% “somewhat disapproving” of the President’s performance. (see question 9)

Set forth below is the first, second and third quarter Texas home prices data  with the national data in parenthesis:

1. On average, in the last year do you think your homeowner clients home values have:


Decreased – 55%/80%/56% (81%/84%/90%)

Increased – 18%/8%/3% (6%/3%/8%)

Stayed the same – 26%/12%/41% (13%/12%/2%)

2. On average, what do your homeowner clients believe that their home is worth?


10% – 20% higher: 23%/35%/51% (38%/35%/45%)

10% – 20% less: 2%/8%/13% (5%/8%/10%)

1% – 9% higher: 48%/27%/0% (25%/24%/*)

1% – 9% less: 11%/6%/0% (7%/9%/*)

21% – 30% higher: 0%/14%/3% (8%/8%/14%)

21% – 30% less: 0%/3%/0% (2%/3%/*)

At listing price you recommend- 14%/12%/26% (11%/10%/14%)

More than 30% higher: 3%/0%/0% (3%/2%/4%)

More than 30% less: 0%/2%/0% (1%/2%/1%)

3. How do your homebuyer clients feel that homes are priced?


Fairly Priced: 23%/23%/23% (20%/19%/18%)

Overpriced by 10% – 20%: 12%/32%/45% (30%/30%/32%)

Overpriced by 21%+: 2%/3%/3% (4%/4%/10%)

Overpriced by less than 10% – 46%/27%/36% (30%/29%/21%)

Underpriced by 10-20% – 8%/6%/15% (8%/8%/14%)

Underpriced by 21-30% – 0%/3%/0% (2%/1%/2%)

Underpriced by less than 10%: 9%/6%/6% (5%/5%/5%)

4. What is the average difference in price between what sellers believe their home to be worth and the amount at which you eventually list the house?


Greater than 11-20% – 2%/6% (5%/7%)

Greater than 21% – 0%/2% (3%/3%)

Greater than 5-10% – 3%/9% (9%/10%)

Less than 11-20% – 14%/21% (24%/23%)

Less than 21-30% – 2%/2% (4%/5%)

Less than 5-10% – 60%/47% (43%/43%)

Little or no difference in price – 20%/14% (12%/8%)

5. What is the average difference in price between what the home is listed at and what the home sells for?


Greater than 11-20% – 0%/3% (4%/4%)

Greater than 21% – 2%/3% (2%/2%)

Greater than 5-10% – 2%/2% (5%/5%)

Less than 11-20% – 12%/26% (24%/27%)

Less than 21-30% – 2%/2% (3%/4%)

Less than 5-10% – 71%/58% (54%/53%)

Little or no difference – 12%/8% (8%/5%)

6. In the next six months, do you think the values of homes in your market will:


Decrease – 17%/24%/25% (31%/29%/53%)

Increase -43%/24%/25% (23%/22%/11%)

Stay the same – 40%/52%/50% (46%/49%/36%)

7. What percent of homes for sale in your area are foreclosures?


10% – 20%: 34%/27%/28% (27%/15%/26%)

21% – 30%: 11%/12%/13% (17%/12%/16%)

31% – 50%: 2%/15%/10% (13%/7%/15%)

51% – 75%: 0%/11%/3% (5%/3%/5%)

75%+: 8%/0%/0% (2%/3%/2%)

Less than 10%: 54%/35%/46% (36%/26%/37%)

8. What is the average home price in your area?


Less than $150k: 22%/23%/5% (18%/16%/11%)

$151k – $300k: 68%/56%/82% (52%/56%/59%)

$301k – $500k: 8%/15%/8% (21%/20%/21%)

$501k – $800k: 3%/5%/5% (7%/5%/6%)

$801k+: 0%/2%/0% (2%/3%/2%)

9. How do you think Barack Obama is performing in his role as President?


Somewhat approve: 17%/35% (21%/31%)

Somewhat disapprove: 12%/14% (19%/19%)

Strongly approve: 11%/23% (20%/26%)

Strongly disapprove: 60%/29% (40%/24%)

See National and Regional Survey Results

Try HomeGain’s Instant Home Values tool

Get Texas home prices on homegain.com:

Houston home values

Dallas home values

San Antonio home values

Austin home values

El Paso home values

Fort Worth home values

Arlington home values

Corpus Christi home values

Plano home values

Garland home values

Lubbock home values

Irving home values

Laredo home values

Amarillo home values

Pasadena home values

Brownsville home values

Grand Prairie home values

Mesquite home values

Abilene home values

Beaumont home values

Waco home values

Sugar Land home values

League City home values

Search Texas Real Estate, find Texas homes for sale, check Texas home prices on HomeGain.

Join the Houston real estate discussion on HomeGain Nation

Join the Austin real estate discussion on HomeGain Nation

Join the Dallas real estate discussion on HomeGain Nation

Louis Cammarosano




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