Forty-seven percent of surveyed real estate professionals nationwide expect home values to decrease over the next six months; Seventy-two percent disapprove of Obama’s performance as President; Rick Perry, Mitt Romney and Ron Paul lead GOP hopefuls
HomeGain, one of the first companies to provide free instant home valuations online, announced the results of its nationwide third quarter 2011 home values survey. Over 500 real estate agents and brokers and over 2,200 homeowners were surveyed. We also released the regional results of the third quarter 2011 HomeGain home values survey.
Most real estate professionals and homeowners continue to expect home values to decrease or stay the same through the middle of the year. Forty-seven percent of agents and brokers and 45 percent of homeowners think that home values will decrease over the next six months.
In the second quarter 2011 HomeGain National Home Values Survey, fifty percent of agents and brokers and 30 percent of homeowners thought that home values would decrease over the next six months.
Forty-two percent of real estate agents and brokers and 43 percent of homeowners think that home values will remain the same in the coming six months.
Eleven percent of real estate professionals expect home values to increase in the next six months, down one percent from last quarter. Twelve percent of homeowners expect home values to increase in the next six months, down three percent from last quarter.
According to surveyed agents and brokers, 75 percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, 68 percent of home buyers believe homes are overpriced.
“Homeowners have joined real estate professionals and now share their dour view on the direction of home prices. Last quarter only 30 percent of homeowners expected home prices to drop in the coming six months while 50 percent of real estate professionals expected price declines. In the current survey 45 percent of homeowners and 47 percent of real estate professionals expect home price declines in the next six months,” said Louis Cammarosano, General Manager of HomeGain.
Fifty-five percent of agents and brokers surveyed indicated that they “strongly disapproved” and 17 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 72 percent disapproval rating, an increase of five percent in the disapproval rating of agents and brokers surveyed in the third quarter last year. Last quarter the President had a 65 percent disapproval rating among agents and brokers.
Forty-seven percent of homeowners “strongly disapproved” and 16 percent “somewhat disapproved” of the President’s performance, earning him a 63 percent disapproval rating. The President had a 56 percent disapproval rating last quarter among surveyed homeowners with 39 percent “strongly disapproving”. The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain Third Quarter 2011 Home Values Survey indicated that the President’s average disapproval rating was 51 percent with an average of 36 percent “strongly disapproving” of his performance.
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 Up in 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 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 August 25 – September 4, 2011.
View all prior HomeGain national and state home prices surveys.
The third quarter 2011 regional results are available by clicking here.
Set forth below are the results of the second quarter 2010 and 2011 national home prices survey as well as the results of the first quarter 2011 survey. Also set forth below for selected questions is the national home owner response data for the second quarter of 2011. Click on each question to see complete results:
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 think Barack Obama is performing in his role as President?
- If the Presidential election were held today, who would you vote for?