On May 18, HomeGain, the first company to provide free online instant home valuations, released the national and regional results of our survey of 1150 former and current HomeGain members. We asked their opinions on home prices and of President Obama’s performance as President. On this blog we published the national and regional 2nd Qtr results. This week we published the results of the California home prices, Texas home prices, Florida home prices, New York home prices, New Jersey home prices and Illinois home prices surveys.
Today we are releasing the New Jersey home prices survey data.
The second quarter New Jersey home values survey shows that home owners in the Garden State have reduced their valuation expectations with 25% of homeowners thinking that their homes are worth 10-20% more than their Realtors’ recommend vs. 68% who beleived the same in the first quarter.
Twenty-three pecent of New Jersey home buyers believe that homes are fairly priced vs. 8% who thought so in the first quarter. Still 59% of New Jersey home buyers believe that homes in their state are over priced, down however, from 76% who believed so in the first quarter.
The majority (52%) of surveyed New Jersey Realtors believe home prices will remain the same of the next six months vs. 64% of New Jersey Realtors who believed in the first quarter survey that home prices would decline.
Fifty-two of New Jersey Realtors believe that the Obama stimulus package has not had or will not have an impact on home prices and 50% strongly approve or somewhat approve of Obama’s performance as President, vs 57% of surveyed Realtors nationwide.