Earlier this week HomeGain released the results of a nationwide survey of nearly 700 HomeGain current and former Realtor members. The survey asked their opinions on home prices and the impact of the Obama stimulus package. On this real estate blog we published the national and regional results.
The HomeGain member survey received national coverage and the results were noted in US News, Dallas Morning News, Boston Globe, Crane’s Investment News, Sellsius, Dallas Magazine, Orange County Register ,RIS Media, Philadelphia Daily News, the Sarasota Herald Tribune, AOL’s Wallet Pop, St. Petersburg Times, Boston Real Estate Blog, Real Trends, Realtor Magazine, Inman News,Transparent Real Estate , Agent Genius and other blogs.
Yesterday we published the Texas home values survey data. Today we are releasing the California home values survey data. In the coming days we will be releasing survey data from New York, Florida and Illinois.
The California survey data reflects one of the more troubled real estate markets in the country with 98% of Realtors beleiving their clients’ homes have decreased in value in the past year (compared to 90% of Realtors in the rest of the country).
The level of foreclosures is higher in California than elsewhere as is the average home price. California Realtors were also among the most pessimistic on the direction of home prices in their state in the next six months, with nearly 70% predicting a further decline.
The data also shows that nearly 20% of California Realtors believe that the Obama stimulus package would act to lower home prices further.
Set forth below is the California home prices data with the national data in parenthesis:
1. On average, in the last year do you think your homeowner clients home values have:
California (National)
Decreased 98% (90%)
Increased 2% (2%)
Stayed the same 0% (8%)
2. On average, what do your homeowner clients believe that their home is worth?
At listing price you recommend 19% (14%)
10-20% higher: 31% (45%)
10% less: 6% (10%)
11-25% less: 12% (8%)
20-30% higher: 16% (14%)
3. How do your homebuyer clients feel homes are priced?
Fairly Priced 23% (18%)
Overpriced by 10-20%: 29% (32%)
Overpriced by less than 10%: 17% (21%)
Underpriced by 10-20%: 11% (14%)
Underpriced by 20-30%: 6% (4%)
4. In the next six months, do you think the values of homes in your market will:
Decrease 69% (53%)
Increase 9% (11%)
Stay the same 23% (36%)
5. What percentage of homes for sale in your area are foreclosures?
10-20%: 15% (26%)
21-30%: 19% (16%)
31-40%: 17% (10%)
41-50%: 11% (5%)
50-75%: 8% (5%)
75%+: 5% (2%)
Less than 10% 25% (35%)
6. What is the average home price in your area?
$151k-$200k 6% (24%)
$201k-$250k 5% (21%)
$251k-$300k 8% (14%)
$301k-$350k 9% (9%)
$351-$400k 17% (7%)
$401k-$450k 6% (3%)
$451k-$500k 6% (3%)
$500k-$550k 5% (2%)
$551-$600k 6% (1%)
$601-$650k 4% (1%)
$651-$700k 5% (1%)
$701-$750k 2% (0%)
$751-$800k 4% (1%)
$801k-$850K 1% (1%)
$851k-$900K 1% (1%)
$901+ (8%) (1%)
Less than $150k 4% (11%)
7. In your opinion, what will the Obama stimulus package have on home values in 2009?
Decrease 17% (13%)
Increase 4% (4%)
STABLIZE 42% (38%)
No impact 37% (45%)
See National and Regional Survey Results
Try HomeGain’s Instant Home Values tool
Check California home prices:
April 1, 2009 – Los Angeles home prices fall 25.9% in January year over year – Los Angeles Times
April 16, 2009 – San Diego home prices flat as sales soar 43% – San Diego Union Tribune
April 10, 2009 listing prices of San Francisco homes for sale increase 3.8% in March 2009- Altos Research
April 16, 2009- San Francisco home prices down 24.2%, home sales up 49% year over year - SF Chronicle
April 16, 2009 – Fresno home prices inch up in March – Fresno Bee
March 25, 2009 Santa Barbara county home prices plunge 45% year over year – Bloomberg
April 8, 2009 – Stockton home prices a bargain? Stockton home values down 40.19% year over year. Many Stockton homes for sale are foreclosures. The Stockton Record – Mercury News
April 17, 2009 – Modesto home prices fall slightly, sales heat up. – The Modesto Bee
View California homes for sale
Check California home prices
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Join the San Francisco real estate market discussion on HomeGain Nation
Join the San Diego real estate market discussion on HomeGain Nation
