Fifity percent of Arizona Real Estate Professionals think home prices will stay the same over the next six months; Sixty-two percent of home owners think home prices will decrease
Last month, HomeGain, one of the first companies to provide free instant home valuations online, released the results of our third quarter 2011 nationwide home values survey of over 500 HomeGain current and former members and 2,2600 home owners. The survey asked their opinions on home prices and what they thought of President Obama’s performance as President.
On this real estate blog we published the 3rd quarter 2011 national results as well as the complete 3rd quarter 2011 regional results, including commentary from real estate agents and brokers. Earlier this month we released the California 3rd quarter 2011 home values survey data and the Florida 3rd quarter 2011 home values survey data, the 2nd quarter 2011 Texas home prices survey data, the 3rd quarter 2011 New York home prices survey data, the 3rd quarter 2011 New Jersey home values survey data, the Illinois 3rd quarter 2011 home values survey data, and the Virginia 3rd quarter 2011 home prices survey data.
Today we are also releasing the Arizona home values survey.
Set forth below is the third quarter 2011 real estate professional and home owner Arizona home prices survey data along with the second quarter 2011 real estate professional survey data and the third quarter 2010 national home prices survey data: (click on each question to see complete 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?
- If the Presidential election were held today, who would you vote for?
Question 2. On average, what do your homeowner clients believe that their home is worth?
Question 3. How do your home buyer clients feel that homes for sale are priced?
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?
Question 5. What is the average difference in price between what the home is listed at and what the home sells for?
Question 7. What percent of homes in your area are foreclosures?
Question 8. What is the average home price in your area?
Question 9: What percentage of your clients are first-time buyers?
See National and Regional Survey Results
Try HomeGain’s Instant Home Values tool
Check Arizona home prices on Homegain.com
Search Arizona real estate
Find U.S. homes for sale and search U.S. real estate
Join the Phoenix real estate discussion on HomeGain Nation
It’s interesting that there is such a disconnect between what home prices have actually done and what home owners believe their homes are worth. This must come as a shock to people when they go to sell their homes.
October 15th, 2011 at 6:03 pm
I do believe that despite the tepid recovery, the run up to 2007 took prices too high, and that there’s still quite a bit of excess to shake loose from the system.
So I think prices will continue to come down for the next couple of years if not longer, and of course there’s the chance that they’ll over correct and drop too far.
October 17th, 2011 at 2:20 am
I guess there are always two sides of the coin… Great news for home buyers.
October 17th, 2011 at 10:39 am
October 22nd, 2011 at 1:36 am