HomeGain Releases 2nd Quarter 2010 New York Home Prices Survey Results

Posted by: Louis Cammarosano on July 6th, 2010

Last week, HomeGain,one of the first companies to provide free online instant home valuations, released the second quarter results of our nationwide survey of over 900 HomeGain current and former members and 3,500 home owners. The survey asked their opinions on home prices and what they thought of President Obama’s performance as President. On this blog we published the complete 2nd quarter 2010 national results as well as the complete 2nd quarter 2010 regional results, including commentary from real estate agents and brokers.

We also have released the second quarter 2010 California home prices survey results as well as the second quarter Florida home prices and second quarter 2010 Texas 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 with 31% of New York home owners believing their homes should be priced 10-20% higher than their agents’ recommended listing price vs. 25% who so thought in the first quarter 2010 New York home prices survey 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).

Fewer New York home buyers saw homes as fairly valued in the second quarter of 2010 than they did in the first quarter 2010 with just 10% of home buyers in the Empire State believing homes were fairly valued vs. 18% who so believed in the first quarter of 2010 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-seven percent of New York home buyers thought homes were overpriced in their state by 10-20% vs. 32 in the first quarter of 2010 who so believed vs. 31% in the fourth quarter of 2009, vs. 47% in the third quarter, 24% in the second quarter and 33% in the first quarter New York home prices survey. (see question 3)

An increasing percentage of New York real estate professionals believe that home prices will decrease in the next six months. Fifty-one percent of New York agents and brokers surveyed thought home values would decrease in the coming six months vs. 35% who thought so in the first quarter of 2010 vs. 39% who thought so in the fourth quarter of 2009 vs. 33% in the third quarter of 2009 and 24% in the second quarter of 2009. (see question 6)

New York home owners were more optimistic regarding the direction of home prices with only 20% thinking that home prices would decline in the next six months. (see question 6)

Fifty -seven percent of New York agents and brokers disapprove of Obama’s performance as President (vs 65% of agents and brokers who disapprove nationally) vs. 61% of New York agents and brokers who disapproved Obama’s performance in the first quarter of 2010 vs. 64% who disapproved in the fourth quarter of 2009 and 50% who approved his performance in the third quarter. (see question 10)

Near equal percentages of New York home owners surveyed approved or disapproved of the President’s performance. (see question 10)

Set forth below is the agents and brokers second quarter 2009 and 2010 New York home prices data and the national second quarter 2010 data, Also set forth below for selected questions are is the home owner response data for the second quarter of 2010 : click on each question to see complete results: