Sixty-five percent of real estate professionals expect home values to increase in the next six months, up from 51 percent from last quarter; Sixty-one percent disapprove of Obama’s performance as President
HomeGain, one of the first websites to provide free instant home valuations online, announced the results of its nationwide fourth quarter 2012 home values survey. Over 200 real estate agents and brokers and over 1,500 homeowners were surveyed. We also released the regional results of the fourth quarter 2012 HomeGain home values survey.
Real estate professionals continue to be more optimistic about the direction of home values than homeowners. Sixty-five percent of real estate professionals expect home values to increase in the next six months, up from 51 percent last quarter and up from 15 percent in the fourth quarter of 2011. Thirty-nine percent of homeowners expect home values to increase in the next six months, up from 34 percent last quarter.
Eleven percent of real estate professionals expect home values to decrease in the next six months, unchanged from last quarter. Twenty percent of homeowners expect home values to decrease in the next six months, also unchanged from last quarter.
Twenty-four percent of real estate professionals and 41 percent of homeowners believe home values will stay the same in the next six months.
Seventy-nine percent of real estate professionals and 62 percent of homeowners think home values will increase in the next two years. In contrast, just 11 percent of real estate professionals and 17 percent of home owners think home values will decrease in the next two years. Ten percent of real estate professionals and 31 percent of homeowners think home values will stay the same in the next two years.
According to surveyed agents and brokers, seventy-five percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, sixty-three percent of home buyers believe homes are overpriced.
“We are seeing a continued increase in optimism about the direction of home prices,” said Louis Cammarosano, General Manager of HomeGain. “Real estate agents expect the recent pick up in the real estate market to continue in the coming two years.”
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:
Forty-six percent of agents and brokers surveyed indicated that they “strongly disapproved” and 15 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 61 percent disapproval rating, a decrease of six percent in the disapproval rating of agents and brokers surveyed in the third quarter of 2012. In a year-over-year comparison with the fourth quarter of 2011, the President had a 70 percent disapproval rating among agents and brokers.
Thirty-nine percent of homeowners “strongly disapproved” and 11 percent “somewhat disapproved” of the President’s performance, earning him a 50 percent disapproval rating. The President had a 56 percent disapproval rating last quarter among surveyed homeowners with 45 percent “strongly disapproving.” The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain Fourth Quarter 2012 Home Values Survey indicated that President’s average approval rating was 55 percent and the average disapproval rating was 44 percent, with an average of 30 percent “strongly approving” of his performance and an average of 34 percent “strongly disapproving” of his performance.
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 November 27 – December 6, 2012.
View all prior HomeGain national and state home prices surveys.
Set forth below are the results of the fourth quarter 2012 and third quarter 2012 national home values surveys as well as the results of the fourth quarter 2011 survey. Also set forth below for selected questions is the national home owner response data for the fourth 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?
- In the next two years, 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?
See regional results
Commentary From Question 1 — Have home prices increased, decreased or stayed the same in the last year?
- “The amount of foreclosed houses in Birmingham is slowly getting less and less so I think the housing market is slowly turning around. ” – Homeowner feedback
- “Housing market in our area is very good. Values are going up at a slow to medium rate.” – Homeowner feedback
- “Home values are still not what they used to be and homes do not sell fast in my area, they can sit for months or years.” – Homeowner feedback
- “In our area, home prices have not hit bottom. Yes there is the occasional high spot, but all in all in order to get it sold it has to drop.” – Homeowner feedback
- “Our home’s value decreased in such a large magnitude, it’s impossible to do anything with it without losing more money.” – Homeowner feedback
See regional results
Commentary From Question 6 — In the next six months, will the values of homes in your market increase, decrease or stay the same?
- “With the lack of inventory, Buyers need to know when a home is fairly priced. If it is they need to come in strong, or someone else will. With still very low prices and still very low interest rates, you have little to lose by buying in this market.”
- “The housing market looks like it is on the road to recovery-although there might be ups and down along the way.” – Agent feedback
- “I feel the market for housing has finally bottomed this past year and is now on the rise, but slowly.” – Homeowner feedback
- “My house is close to FaceBook’s new HQ which has caused a dramatic jump in my home valuation in past 6 months.” – Homeowner feedback
- “Home values depends on who is elected. Romney elected then prices will gradually go up, if Obama, then prices will slowly decrease as the economy gets worse.” – Homeowner feedback
- “New homes/condos being built all the time here. Prices haven’t quite climbed back to 2008, but they’re headed in the right direction.” – Homeowner feedback
Commentary From Question 7 — In the next two years, will the values of homes in your market increase, decrease or stay the same?
- “While the value of my home has remained steady, values in the area where I live have declined and I expect that they will level out.” – Homeowner feedback
- “Although I expect that my home’s value will increase within 2 years, I believe the increase will be nominal” – Homeowner feedback
See regional results
Commentary From Question 11 — How do you think Barack Obama is performing in his role as President?
- “I’m very happy Obama was reelected, I thought he should have been given more time and a better chance to get his job accomplished?”
- “President Obama is doing an excellent job in light of the economy and world events. Americans need to focus on working together to restore our economy and leadership in the world!”
- “I have never seen a president failing so much in his policies and still have so much popularity, unless the media is not telling us the truth. I also believe that the media lost their role in reporting events and the truth.”
- “I believe that President Obama is taking the nation in the right direction of recovery. It took time to get in this mess, and it will take time to recover from it, and he’s made good efforts.” – Homeowner feedback
- “Obama has not kept any of his promises…why anyone would vote him back in is beyond me.”
- “If Obama is reelected I want to go to another planet because he will destroy America and American values. This president is a disgrace to all Americans.”- Homeowner feedback
- “President Obama continues to clean up messes from President Bush and the overwhelming economic circumstances he inherited in his first term. I believe that the USA in on the way up during his second term.” – Homeowner feedback
- “President Obama does not have a clue. I am tired of listening to his rhetoric.”- Homeowner feedback
- “Our President needs the house to sign off on some of his policies, equal pay for women, education, and heath, etc. President Obama is doing a great job and he needs to be reelected to finish.” – Homeowner feedback
- “This program has really helped us save our home but a lot of what he’s tried to do is always blocked by the Republicans even when it used to be their policies. Just because Obama’s name is on it, they will reject it. He will win a second term.” – Homeowner feedback
- “I am sure there is a strong correlation between people who believe the value of their home has and will increase with those who believe that Obama has done a good job so far as president.” – Homeowner feedback
- “Although Barack Obama is the president of the United States, there are so many policies that need congressional approval. He needs some compromise from both chambers–Democrats & Republicans. Its my ultimate hope that both Chambers and the President can find some common grounds to get things done for all of us.” – Homeowner feedback
- “I am not happy with President Obama’s performance, however, everything in my experience tells me that I and my neighbors would fare worse under republican leadership.” – Homeowner feedback
- “President Obama’s policies serve as a direct detriment to the recovery of the US economy.” – Homeowner feedback
Regions are defined as:
New York home prices | Chicago home prices | Los Angeles home prices | Houston home prices | Philadelphia home prices | Phoenix home prices | San Antonio home prices | San Diego home prices | Dallas home prices | San Jose home prices | Detroit home prices | Indianapolis home prices | Jacksonville home prices | San Francisco home prices | Austin home prices | Memphis home prices | Baltimore home prices | Fort Worth home prices | Charlotte home prices | El Paso home prices | Milwaukee home prices | Seattle home prices | Boston home prices | Denver home prices | Washington D.C. home prices | Louisville home prices | Nashville home prices | Las Vegas home prices | Oklahoma City home prices | Portland home prices | Tucson home prices | Albuquerque home prices | Atlanta home prices | Long Beach home prices | New Orleans home prices | Kansas City home prices | Mesa home prices | Virginia Beach home prices | Tulsa home prices | Minneapolis home prices | Omaha home prices | Honolulu home prices