Earlier today HomeGain, one of the first companies to provide free instant home valuations online, released the fourth quarter results of our nationwide survey of nearly 1000 HomeGain current and former Realtor members. 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 national and regional 4th Qtr results.
Today we are releasing the California home values survey data. In the coming days we will be releasing home values survey data from Texas, Florida, Illinois, New York, New Jersey, Arizona, Virginia, North Carolina, Colorado, Georgia, Nevada, Pennsylvania, Massachusetts and other states.
The 4th quarter California home prices survey data reflects some changes from the 3rd quarter California home prices survey. In the third quarter 34% of home buyers thought that homes in the Golden State were fairly valued vs. 25% who think so in the current survey. (see question 3) Forty-eight percent of California home buyers now believe that homes are over priced vs 45% in the third quarter and 65% in the second quarter.
In the fourth quarter survey an increasing percentage of California Realtors expect home prices to rise with 41% of California Realtors expecting home prices to rise in the next six months vs. 34% who thought home prices would rise in the third quarter suvey. In the second quarter survey 22% of California Realtors thought prices would rise just 9% thought so in the first quarter survey. (see question 6)
Fifty-seven percent of California Realtors somewhat approve or strongly approve of Obama’s performance as President vs. 51% in the third quarter. This contrasts favorably to Obama’s 42% approval rating nationally in the fourth quarter. (see question 9)
In the second quarter survey 65% of California Realtors approved of Obama’s performance vs. 57% nationally.
Set forth below is the first, second and third quarter California home prices data with the national data in parenthesis: (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 as a Realtor think Barack Obama is performing in his role as President?