Yesterday HomeGain announced the results of a nationwide survey of nearly 700 HomeGain current and former members. The survey asked their opinions on home values and the Obama stimulus package. On this real estate blog we published the national and regional results.
So far the HomeGain member survey has been picked up 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 and other blogs.
We have received quite a few inquiries regarding whether we had survey data on the state level.
Indeed we do!
We will be publishing the data from the states of which we received an adequate number of responses – Texas, California, Florida, New York, Georgia and Illinois.
The Texas survey data reveals a far less pessimistic picture regarding home prices with nearly a quarter of of home buyers in Texas believing that homes were fairly priced vs the 18 percent national survey average.
The data also shows that a greater percentage of Texas Realtors believe that the Obama stimulus package would act to stabilize prices than their counterparts in the rest of the country.
Set forth below is the Texas home prices data with the national data in parenthesis: Texas (National)
1. On average, in the last year do you think your homeowner clients home values have:
Decreased 56% (90%)
Increased 3% (2%)
Stayed the same 41% (8%)
2. On average, what do your homeowner clients believe that their home is worth?
At listing price you recommend 26% (14%)
10-20% higher 51% (45%)
10% less 13% (10%)
11-25% less 8% (8%)
20-30% higher 3% (14%)
3. How do your homebuyer clients feel that homes are priced?
Fairly Priced 23% (18%)
Overpriced by 10-20% -18% (32%)
Overpriced by less than 10% 36% (21%)
Underpriced by 10-20% 13% (14%)
Underpriced by 20-30% -0% (4%)
4. In the next six months, do you think the values of homes in your market will:
Decrease 25% (53%)
Increase 25% (11%)
Stay the same 50% (36%)
5. What percent of homes for sale in your area are foreclosures?
10-20% 28% (26%)
21-30% 13% (16%)
31-40% 10% (10%)
50-75% 3% (5%)
Less than 10% 46% (35%)
6. What is the average home price in your area?
$151k-$200k 54% (24%)
$201k-$250k 21% (21%)
$251k-$300k 10% (14%)
$301k-$350k 8% (8%)
$401k-$450k 3% (3%)
Less than $150k 5% (11%)
7. In your opinion, what impact will the Obama Stimulus package have on home values in 2009?
Decrease 13% (13%)
Increase 8% (4%)
STABLIZE 46% (38%)
No impact 33% (45%)
See National and Regional Survey Results
Try HomeGain’s Instant Home Values tool
Get Texas home prices:
April 13, 2009 – Dallas home prices fall 4.9% year over year - American Institute for Economic Research
April 9, 2009 Fort Worth home prices rose 1.2% in March and 1.1 in the first quarter. Star Telegram
April 12, 2009 – League City home prices increase 1.3% – Galveston Daily News
View Texas homes for sale
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Find U.S. homes for sale and search U.S. real estate
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