On Monday, HomeGain, the first website to provide free instant home values, released the national and regional results of our Realtor home prices survey of nearly 1,100 current and former HomeGain members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President. On this real estate blog we published the complete national and regional third quarter results.
Today we are releasing the Massachusetts home prices survey data.
In the third quarter, Massachusetts Realtors surveyed believe that home owners in thier state have sharply increased their home price expectations with 47% of Bay State home owners thinking that their homes should be prices 10-20% higher than their Realtors’ recommended listing price. This is up from 31% in the second quarter Massachusetts home prices survey. (see question 2)
Home buyers disagree! Just 6% of home buyers think homes are fairly priced in Massachusetts vs 31% who thought so in the second quarter. Indeed 65% of home buyers now believe that Massachusettes homes are over priced by 10-20% vs just 35% who thought so in the second quarter. (see question 3)
In spite of this seemingly contradictory data, 76% of Massachussetts Realtors believe home prices will rise or stay the same over the next six months vs 66% who thought the same in the second quarter. (see question 6)
Massachussetts Realtors surveyed continue to support President Obama with an approval rating of 59% (vs a 42% national average among Realtors surveyed). In the second quarter Obama’s approval rating among Massachusetts Realtors stood at 65% (vs. 58% nationally)
Set forth below is the first, second and third quarter Massachusetts home prices survey results with the national data in parenthesis: