HomeGain Releases 1st Quarter 2010 New York Home Prices Survey Results

Posted by: Louis Cammarosano on March 30th, 2010

Last week, HomeGain, one of the first companies to provide free instant home valuations online, released the national and regional results of our first quarter home prices survey of more than 1,400 HomeGain current and former members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President so far. On the HomeGain real estate blog we published the full survey results, including agent and broker commentary and charts. Earlier, we published the results of the first quarter 2010 Texas home prices survey, Florida home prices survey and California home prices survey results.

Today we are publishing the New York home prices survey data.

The New York survey data shows an increase in home owners’ pricing expectations with25% of New York home owners believing their homes should be priced 10-20% higher than their agents’ recommended listing price vs. 23%% who thought so in the fourth quarter New York home prices survey vs. 43% in the third quarter New York home prices survey and 36% who thought the same in the second quarter New York home prices survey. (see question 2).

New York home buyers saw homes as less fairly valued in the first quarter of 2010 than they did in the fourth quarter of 2009 with 18% of home buyers in the Empire State believing homes were fairly valued vs. 19% who believed so in the fourth quarter, vs. 14% who believed so in the third quarter and 21% who so believed in the second quarter. Thirty-two percent of New York home buyers thought homes were overpriced in their state by 10-20% vs. 31% in the fourth quarter of 2009, vs. 47% in the third quarter, 24% in the second quarter and 33% who thought so in the first quarter New York home prices survey. (see question 3)

An decreasing percentage of New York real estate professionals believe that home prices will decrease in the next six months. Thirty-five percent of New York agents and brokers surveyed thought home values would decrease in the coming six months vs. 39% who thought so in the fourth quarter vs. 33% in the third quarter and 24% who thought the same in the second quarter survey. (see question 6)

Sixty-one percent of New York agents and broker approve of Obama’s performance as president vs. 64% who disapprove of Obama’s performance as President in the fourth quarter of 2009 and 50% who approved his performance in the third quarter. (see question 10)

Set forth below is the first quarter 2009 and 2010 New York home prices data with the national first quarter 2010 data: (click on each question to see complete results):