Earlier this week HomeGain, the first website to provide free instant home valuations, announced the results of a nationwide survey of over 1150 HomeGain current and former members. The survey asked their opinions on home values, the Obama stimulus package and how Obama is performing as President. On this real estate blog we published the national and regional results.
Today we publish the opinions of Texas Realtors.
The national results of the first quarter surey of Realtors on home values painted a very pessimistic picture. The 1st quarter Texas survey data, however, revealed far less pessimism.
In the first quarter Texas survey 41% of Realtors believed that their client’s home values had stayed the same in the last year with 56% believing that they had decreased. It seems in the past three months that home price depreciation has set in at the Lone Star State. In the second quarter Texas survey only 12% of Texas Realtors thought that home values had stayed the same vs. 80% who thought that they had decreased.
While the national survey showed a sharp jump in optimisim about the direction of home prices, the Texas survey showed little change. However, in the first quarter, Texas Realtors had a far more optimistic view on the direction of home prices than did their counterparts across the nation. The Texas survey data now is more closely alligned with the national survey data. (see question 4 below)
While Texas Realtors approved Obama’s performance as President 57%-43% in line with the national survey results, their support was weaker. Twenty nine percent of Texas Realtors “strongly disapproved” of Obama’s performance as President (vs. 24% nationally) while 23% “strongly approved” (vs. 26% nationally).
Set forth below is the 2nd Qtr Texas home prices data along side the 1st Qtr Texas home prices data with 2nd and 1st Qtr national data (Note that questions 7 and 8 are new and no comparision has been provided):