On May 18, HomeGain, the first company to provide free online instant home valuations, released the national and regional results of a survey of more than 1150 current and former HomeGain members. The survey asked their opinions on home prices and what they thought of President Obama’s performance as President. On the HomeGain real estate blog we published the national and regional 2nd Qtr results. Earlier this week we published the results of the California home prices, Texas home prices and Florida home prices surveys.
Today we are releasing the New York home prices survey data.
The survey data shows that New York experienced its home prices decline later than the rest of the country. In the first quarter New York home values survey 20% of Realtors surveyed believe that the value of their homeowner clients homes actually increased over the past year vs. only 3% who believed the same in the current quarter.
Despite the recent home price depreciation in New York, Realtors from the Empire State were more optimistic than their national counterparts on the direction of home prices. Thirty-six percent of New York Realtors surveyed believe that home values will rise in the next six months vs. 22% of Realtors surveyed nationally. (Question 6)
In the first quarter New York home prices survey, 66% of Realtors expected home prices to decline in the next six months. In the current survey just 24% of New York Realtors expect home prices to decline in the next six months.
Fifty-four percent of New York homebuyers believe that home prices in their state are fairly or undervalued vs. 34% of the national home buyers who believe the same. (Question 2).
Sixty-seven percent of New York realtors believe that the Obama Stimulus Package has had or will not have any impact on property values vs. 55% of Realtors nationally who believe the same.
Fifty-four percent of New York Realtors strongly or somewhat approve of Obama’s performance as President vs. 57% nationally.