Early last week, HomeGain 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, Florida home prices, New York home prices, New Jersey home prices, Illinois home prices, Georgia home prices and Arizona home prices surveys.
Today we are releasing the North Carolina home prices survey data.
According to the home values survey, North Carolina home owners significantly tempered their home valuation expectations. In the first quarter survey North Carolina Realtors thought that 63% of their home owner clients believed that their homes should be listed 10-20% higher than they recommended. In the current survey, 27% of North Carolina home owners believed that their homes should be listed 10-20% higher that their Realtors’ recommended listing price. (see question 2)
A greater percentage of North Carolina home buyers now believe that homes are more reasonably priced. In the first quarter survey 63% of North Carolina buyers thought that homes were overvalued, with 37% thinking that homes were over priced by 10-20% and 26% thinking that homes were over priced by less than 10%. In the current survey 56% of home buyers believe that homes are overpriced, with 24% thinking that homes were over priced by 10-20% and 32% thinking that homes were over priced by less than 10%. (see question 3)
North Carolina Realtors expressed increased optimism on the direction of home prices. In the first quarter 48% of North Carolina Realtors thought that home prices would decline in the next six month. In the current survey, only 22% expected home values to decline in the next six months with the majority or North Carolina Realtors (51%) believing that home prices would stay the same over the next six months. (see question 6)
Fifty-eight percent of North Carolina Realtors strongly approve (34%) or somewhat approve (24%) of Obama’s performance as President. (see question 10)
Set forth below is the North Carolina home prices survey data with the national data in parenthesis: