HomeGain Releases 2nd Quarter 2010 Texas Home Prices Survey Results

Posted by: Louis Cammarosano on July 2nd, 2010

Earlier this 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.

Yesterday we released the second quarter 2010 California home prices survey results and today we published the  results of the second quarter Florida home prices survey.

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The Texas results reflect a more optimistic view of the direction of home prices in the Lone Star State than in the rest of the country. Thirty-three percentage of surveyed real estate agents and brokers believe that home values will increase in their state vs. 20% of agents and brokers nationally who believe the same. (see question 6)

Thirty percent of Texas home owners think that home prices will rise in the next six months and 50% believe they will stay the same.

Texas home owners increased their valuation expectations in the current survey with 92% believing that their homes were worth more than their Realtors’ recommended listing price. In the first quarter that percentage was 75%. (see question 2)

Sixty-seven percent of Texas home buyers believe that home prices are over priced vs 61%% who thought so in the first quarter 2010 Texas home prices survey. More telling was the percentage of Texas home buyers that currently believe that homes are over priced by 10-20%. In the second quarter 31% so believed vs. 14% who so believed i n the first quarter 2010 Texas survey.  (see question 3)

President Obama’s approval rating among Texas Realtors dropped to 30%, down from 42% in the first quarter of 2010. In the current survey 54% “strongly disapproved” of the President’s performance and 16 “somewhat disapproved”. (see question 10)

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

  1. Have home prices increased, decreased or stayed the same in the last year?
  2. On average, what do homeowners believe that their home is worth?
  3. How do buyers feel that homes for sale are priced?
  4. 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?
  5. What is the average difference in price between what a home is listed at and what a home sells for?
  6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
  7. What percentage of homes for sale are foreclosures in your area?
  8. What is the average home price in your area?
  9. What percentage of your clients are first-time buyers?
  10. How do you think Barack Obama is performing in his role as President?


Question 1:

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

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*Dash denotes no related data


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

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Question 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?

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*Dash denotes no related data

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

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*Dash denotes no related data

Question 6:

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

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

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Question 9:

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*Dash denotes no related data

Question 10:

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*Dash denotes no related data

##

See National and Regional Survey Results

Try HomeGain’s Instant Home Values tool

Get Texas home prices on homegain.com:

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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Comments

2 Comments on “HomeGain Releases 2nd Quarter 2010 Texas Home Prices Survey Results”

Alex Cortez

Wow, sounds as though consumer confidence is looking up in Texas, now it’s time for the rest of the country to catch up.

Chuck Marvin

Heh, it’s going to take a while for all of these figures to sink in!!

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