UPDATE: THIRD QUARTER RESULTS NOW AVAILABLE- Click here
HomeGain¬ģ, one of the first websites to provide free instant home values, today announced the results of its nationwide home prices survey of over 900 current and former HomeGain members and more than 3,500 homeowners. We also released the regional results of our survey and will release selected state survey data in the coming days.
The results of the HomeGain Second Quarter 2010 Home Prices Survey indicates that¬† real estate agents and brokers and homeowners continue to differ on the current values of homes and the direction of home prices.
Real estate agents and brokers as well as homeowners gave Barack Obama low marks with 65% of real estate professionals and 58% of home owners disapproving of the President’s performance. (see question 10 below)
Seventy-seven percent of homeowners think their homes are worth more than the recommended agent listing price, unchanged from the HomeGain First Quarter 2010 Home Prices Survey and up from 69% in the HomeGain Second Quarter 2009 Home Prices Survey. Forty-seven percent of real estate agents and brokers and 49% of homeowners think that home prices will remain the same in the coming six months.
Twenty-eight percent of homeowners think that the values of their homes will increase over the next six months vs. just 20% of real estate agents and brokers who think the same. Thirty-three percent of real estate agents and brokers and 23% of home owners think that home prices will decrease over the next six months. (see question 6 below)
Sixty-three percent of surveyed agents and brokers indicated that their home buyer clients think homes for sale are overpriced.
It is not surprising to see that home owners are slightly more optimistic about the direction of home prices than real estate professionals and that neither group is predicting a rise in home prices over the next six months. Real estate industry watchers tracking the direction of home prices will continue to focus on the impact of the expiration of the home buyer tax credit, the direction of interest rates and unemployment, foreclosure and shadow inventory data.
Set forth below are the top states where real estate professionals and home owners think home prices will rise and fall over the next six months.
Top 10 States Where Real Estate Agents and Homeowners Think Home Prices Will Go Down In the Next Six Months:
Top 10 States Where Real Estate Agents and Homeowners Think Home Prices Will Go Up in the Next Six Months:
We also asked real estate professionals of whether they approved Obama’s performance as President. Sixty-four percent disapproved while 36% approved.¬† Among homeowners 58% disapproved while 42% approved. The results varied by state as set forth below.
Top 10 States Where Real Estate Agents and Homeowners Approve of Barack Obama’s Performance as President:
Top 10 States Where¬†Real Estate Agents and Homeowners¬†Disapprove of Barack Obama’s Performance as President:
The survey was conducted from June 8-18.
View all prior HomeGain national and state home prices surveys.
The second quarter 2010 regional results are available by clicking here.
Questions and National 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?
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