Below are the regional results of the entire survey, categorized into four regions*, Northeast, Southeast, Mid-West and West.
Questions and Regional 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?
Overall, in each region, the majority of real estate agents and brokers think home values have decreased in value in the past year.
Overall, the majority of agents and brokers in each region of the U.S. indicated that homeowners think their home is worth 10-20% more than the agent or broker recommends.
Overall, the majority of U.S. home buyers in each region of the U.S. think homes for sale are overpriced.
Overall, the majority of agents and brokers in each region of the U.S. indicated that homes are listed 5-10% less than what homeowners think their home is worth.
Overall, the majority of agents and brokers in each region of the U.S. indicated that the home sells for less than 5%-10% of the listing price.
Overall, real estate brokers and agents disapprove of the President’s performance.
*Regions are divided as follows:
- Northeast: Maine, New Hampshire, Massachusettes, Vermont, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania, Delaware, Maryland and West Virginia
- Southeast: Virginia, South Carolina, North Carolina, Georgia, Florida, Alabama, Mississippi and Tennesee
- Mid-West: Ohio, Indiana, Illinois, Michigan, Wisconsin, Minnesota, Iowa, North Dakota, South Dakota, Nebraska, Wyoming, Colorado, New Mexico, Texas, Oklahoma, Kansas, Louisiana, Arkansas and Missouri
- West: Alaska, Hawaii, California, Washington, Oregon, Nevada, Arizona, Utah, Idaho and Montana
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There is no new news here. Sellers are overpriced because they think their properties are worth more.
June 5th, 2011 at 9:51 am